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ROYAL DUTCH SHELL PLC: Shell announces pause in Alaska drilling programme

ROYAL DUTCH SHELL PLC: Shell announces pause in Alaska drilling programme
Shell announces pause in Alaska drilling programme 
The Hague, February 27, 2013: Royal Dutch Shell plc ("Shell") today announced
it will pause its exploration drilling activity for 2013 in Alaska's Beaufort
and Chukchi Seas to prepare equipment and plans for a resumption of activity at
a later stage. 
"We've made progress in Alaska, but this is a long-term programme that we are
pursuing in a safe and measured way," said Marvin Odum, Director, Upstream
Americas. "Our decision to pause in 2013 will give us time to ensure the
readiness of all our equipment and people following the drilling season in
2012." 
Alaska holds important energy resources. At the same time, securing access to
those resources requires special expertise, technology and an in depth
understanding of the environmental and societal sensitivities unique to the
region. Shell is one of the leaders in an industry move into offshore Arctic
exploration. The company continues to use its extensive experience in Arctic
and sub-Arctic environments to prepare for safe activities in Alaska. 
Alaska remains an area with high potential for Shell over the long term, and
the company is committed to drill there again in the future. If exploration
proves successful, resources there would take years to develop. 
Shell completed top-hole drilling on two wells in 2012 in the Beaufort and
Chukchi Seas, marking the industry's return to offshore drilling in the Alaskan
Arctic after more than a decade. This drilling was completed safely, with no
serious injuries or environmental impact. After the drilling season ended,
however, one of Shell's drilling rigs, the Kulluk, was damaged in a maritime
incident related to strong weather conditions. The Kulluk and the second
drilling rig, the Noble Discoverer, will be towed to locations in Asia for
maintenance and repairs. 
"Shell remains committed to building an Arctic exploration program that
provides confidence to stakeholders and regulators, and meets the high
standards the company applies to its operations around the world," said Odum.
"We continue to believe that a measured and responsible pace, especially in the
exploration phase, fits best in this remote area." 
Notes for Editors 
Royal Dutch Shell plc ("Shell") is a leading oil and gas exploration player,
with upstream activities in over 50 countries world-wide. Exploration and deals
in conventional basins and resources plays added 12 billion barrels of oil
equivalent (boe) resources for Shell in 2010-2012. 
Shell has ambitious exploration plans worldwide. Exploration drilling activity
will step up in 2013-14. Shell expects to drill over 40 high-potential wells in
18 conventional basins, and test 10 key resources plays for tight gas and
liquids-rich shales. Plans for 2013 call for a $7 billion exploration and
appraisal programme spanning both early production opportunities and
longer-term development plays. 
Enquiries: 
Shell Media Relations:
International +44 207 934 5550
Americas +1 713 241 4544 
Shell Investor Relations:
International +31 70 377 4540
North America +1 713 241 1042 
Cautionary note 
The companies in which Royal Dutch Shell plc directly and indirectly owns
investments are separate entities. In this announcement "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
announcement refer to companies in which 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 announcement, 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 per cent shareholding in Woodside
Petroleum Ltd.) ownership interest held by Shell in a venture, partnership or
company, after exclusion of all third-party interest. 
This announcement contains forward looking statements concerning the financial
condition, results of operations and businesses of Shell and the Shell Group.
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 Shell and
the Shell Group 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 Shell
and the Shell Group and could cause those results to differ materially from
those expressed in the forward looking statements included in this
announcement, 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 announcement 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 Shell's 20-F
for the year ended 31 December 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 announcement, 27
February 2013. Neither Shell nor any of its subsidiaries nor the Shell Group
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
announcement. 
END 
-0- Feb/27/2013 18:28 GMT
 
 
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