Perdido in the sunset

“This bid round offers significant frontier exploration opportunities that have the potential to add a long-term deep-water position and complement Shell’s unconventional business in the Neuquén Basin”, said Andy Brown, Upstream Director, Shell. “Shell is pleased to grow its footprint in Argentina and to do so hand in hand with our long-term global strategic partner, Qatar Petroleum.”  

Shell’s exploration activities are focused on growing existing heartlands and on emerging basins to add competitive and resilient options to its upstream portfolio. The company’s deep-water business has production onstream in Brazil, the US Gulf of Mexico, Nigeria and Malaysia.  Its exploration opportunities extend beyond 2025 and include Brazil, Mexico, the US Gulf of Mexico, offshore Mauritania, the western Black Sea, and now Argentina.  

Shell will hold 60% interest of the exploration licences and will be the operator. Qatar Petroleum will hold the remaining 40%.  

Notes to Editor:

  • Blocks CAN_107 and CAN_109 are frontier exploration blocks at the edge of the continental shelf, have an area of 8,341 km2 and 7,860 km2 respectively, and span from shallow to deep-water.
  • The initial exploration phase will focus on new, high quality seismic data acquisition, to enable full evaluation of the hydrocarbon plays and concepts identified by Shell and its consortium member Qatar Petroleum.   
  • Shell has been in Argentina for over 100 years and is committed to competitively developing and growing its Upstream business in country in the years to come.
  • Shell will continue working with the Government of Argentina and contribute to the construction of a modern, efficient and sustainable energy future for the country.

Enquiries

Investor Relations

  • International: +31 70 377 4540
  • North America: +1 832 337 2034

Media Relations

  • Argentina: 54 9 11 4163 7426
  • US & Brazil: +1 832 337 4355

Prensa

Póngase en contacto con el equipo de Prensa de Shell Argentina

Aguas profundas

Bajo la superficie del océano, se encuentran extensos yacimientos de petróleo y gas. Tienen potencial para impulsar el crecimiento económico y ayudar a satisfacer las necesidades crecientes de energía en el mundo.

Cautionary Note

The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this 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 release refer to companies over which Royal Dutch Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations” respectively. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in a venture, partnership or company, after exclusion of all third-party interest.

This 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’’, “schedule”, ‘‘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 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. There can be no assurance that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this 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 risk factors that may affect future results are contained in Royal Dutch Shell’s 20-F for the year ended December 31, 2018 (available at www.shell.com/investor and www.sec.gov ). These risk factors also expressly qualify all forward looking statements contained in this release and should be considered by the reader. Each forward-looking statement speaks only as of the date of this release, April 16, 2019. Neither Royal Dutch Shell plc 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 release.

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