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Shell's Olympus Hull Departs South Korea

                   Shell's Olympus Hull Departs South Korea

PR Newswire

HOUSTON, Nov. 28, 2012

HOUSTON, Nov. 28, 2012 /PRNewswire/ -- Shell Offshore Inc.'s (Shell) Olympus
hull, the approximately 32,500 metric ton main body of the Olympus TLP,
departed from South Korea today to begin its two month journey to the U.S.
Gulf Coast. After nearly 4 million man hours and a peak of approximately
1,300 workers on-site, construction of the Olympus hull was completed in
November 2012. The hull will be transported from South Korea to Ingleside, TX
on Dockwise's world-class Blue Marlin marine vessel, a semi-submersible heavy
lift ship specifically designed to transport larger equipment above the ship's
deck. The hull is expected to reach Ingleside, Texas in early 2013 where
installation of the topsides will take place before the TLP departs for its
final location on the Mars Field in the Gulf of Mexico.

(Photo: http://photos.prnewswire.com/prnh/20121128/DA20106-a)

(Photo: http://photos.prnewswire.com/prnh/20121128/DA20106-b)

(Logo: http://photos.prnewswire.com/prnh/20120917/MM76045LOGO)

The Mars Field, owned by Shell (71.5%) and BP (28.5%), and operated by Shell,
continues to contribute to the Gulf of Mexico's position as a critical
component of the US energy supply. Discovered in 1989 and brought onto
production in 1996, the Mars Field is considered one of the largest resource
basins in the Gulf of Mexico. The site for the Olympus TLP, known as the Mars
B development, is located about 130-miles south of New Orleans in the
Mississippi Canyon and lies in approximately 3000 feet of water.

The Olympus TLP, Shell's sixth and largest tension leg platform, will also
provide process infrastructure for two of Shell's deep water discoveries, West
Boreas and South Deimos. The Mars B development is the first project of its
kind to expand an existing deep water Gulf of Mexico oil field. A combination
of factors produced this growth, including improved understanding of the
reservoir and recovery potential due to advanced seismic and modeling
technologies, and new discoveries in the Mars Field.

For more information on the Mars B project, please visit:
http://www.shell.com/home/content/aboutshell/our_strategy/major_projects_2/mars_b/

Cautionary Note

The companies in which Royal Dutch Shell plc directly and indirectly owns
investments are separate entities. In this press release "Shell", "Shell
group" and "Royal Dutch Shell" are sometimes used for convenience where
references are made to Royal Dutch Shell plc and its subsidiaries in general.
Likewise, the words "we", "us" and "our" are also used to refer to
subsidiaries in general or to those who work for them. These expressions are
also used where no useful purpose is served by identifying the particular
company or companies. ''Subsidiaries'', "Shell subsidiaries" and "Shell
companies" as used in this press release refer to companies in which Royal
Dutch Shell either directly or indirectly has control, by having either a
majority of the voting rights or the right to exercise a controlling
influence. The companies in which Shell has significant influence but not
control are referred to as "associated companies" or "associates" and
companies in which Shell has joint control are referred to as "jointly
controlled entities". In this press release, associates and jointly controlled
entities are also referred to as "equity-accounted investments". The term
"Shell interest" is used for convenience to indicate the direct and/or
indirect (for example, through our 23% shareholding in Woodside Petroleum
Ltd.) ownership interest held by Shell in a venture, partnership or company,
after exclusion of all third-party interest.

This press release contains forward-looking statements concerning the
financial condition, results of operations and businesses of Royal Dutch
Shell. All statements other than statements of historical fact are, or may be
deemed to be, forward-looking statements. Forward-looking statements are
statements of future expectations that are based on management's current
expectations and assumptions and involve known and unknown risks and
uncertainties that could cause actual results, performance or events to differ
materially from those expressed or implied in these statements.
Forward-looking statements include, among other things, statements concerning
the potential exposure of Royal Dutch Shell to market risks and statements
expressing management's expectations, beliefs, estimates, forecasts,
projections and assumptions. These forward-looking statements are identified
by their use of terms and phrases such as ''anticipate'', ''believe'',
''could'', ''estimate'', ''expect'', ''goals'', ''intend'', ''may'',
''objectives'', ''outlook'', ''plan'', ''probably'', ''project'', ''risks'',
''seek'', ''should'', ''target'', ''will'' and similar terms and phrases.
There are a number of factors that could affect the future operations of Royal
Dutch Shell and could cause those results to differ materially from those
expressed in the forward-looking statements included in this press release,
including (without limitation): (a) price fluctuations in crude oil and
natural gas; (b) changes in demand for Shell's products; (c) currency
fluctuations; (d) drilling and production results; (e) reserves estimates; (f)
loss of market share and industry competition; (g) environmental and physical
risks; (h) risks associated with the identification of suitable potential
acquisition properties and targets, and successful negotiation and completion
of such transactions; (i) the risk of doing business in developing countries
and countries subject to international sanctions; (j) legislative, fiscal and
regulatory developments including regulatory measures addressing climate
change; (k) economic and financial market conditions in various countries and
regions; (l) political risks, including the risks of expropriation and
renegotiation of the terms of contracts with governmental entities, delays or
advancements in the approval of projects and delays in the reimbursement for
shared costs; and (m) changes in trading conditions. All forward-looking
statements contained in this press release are expressly qualified in their
entirety by the cautionary statements contained or referred to in this
section. Readers should not place undue reliance on forward-looking
statements. Additional factors that may affect future results are contained in
Royal Dutch Shell's 20-F for the year ended December 31, 2011 (available at
www.shell.com/investor and www.sec.gov ). These factors also should be
considered by the reader. Each forward-looking statement speaks only as of the
date of this press release, November 28, 2012. Neither Royal Dutch Shell nor
any of its subsidiaries undertake any obligation to publicly update or revise
any forward-looking statement as a result of new information, future events or
other information. In light of these risks, results could differ materially
from those stated, implied or inferred from the forward-looking statements
contained in this press release.

We may have used certain terms, such as resources, in this press release that
United States Securities and Exchange Commission (SEC) strictly prohibits us
from including in our filings with the SEC. U.S. Investors are urged to
consider closely the disclosure in our Form 20-F, File No 1-32575, available
on the SEC website www.sec.gov. You can also obtain these forms from the SEC
by calling 1-800-SEC-0330.

SOURCE Shell Offshore Inc.

Contact: Shell Oil Company, Shell Media Line, +1-713-241-4544
 
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