TOM BOTTS EXECUTIVE VICE PRESIDENT – EXPLORATION & PRODUCTION EUROPE Desemberkonferansen 2007 6 th DECEMBER 2007 UPSTREAM EUROPE – STEPPING UP THE PACE.

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Presentation transcript:

TOM BOTTS EXECUTIVE VICE PRESIDENT – EXPLORATION & PRODUCTION EUROPE Desemberkonferansen th DECEMBER 2007 UPSTREAM EUROPE – STEPPING UP THE PACE IN THE NORWEGIAN SEA

1 AGENDA Shell EP Global Strategy Shell’s European Activities Stepping up the pace in the Norwegian Sea

2 SHELL E&P, LEVERAGING A STRONG PORTFOLIO INDUSTRY LANDSCAPE TECHNOLOGY Unconventionals + exploration Cleaner fuels, CO 2 solutions PORTFOLIO SHIFT New legacy assets Growth markets East … SHELL STRATEGY New competitors Complex projects Higher prices & costs ENERGY CHALLENGE

3 SHELL IN UPSTREAM EUROPE UPSTREAM EUROPE CAPITAL EXPENDITURE OIL & GAS PRODUCTION EUROPE REST OF THE WORLD 11% ($2.6 bn) 32% (1.1 m boe/d) 2007 Shell activities

4 STRONG POSITION TRACK RECORD Strong and diverse portfolio Industry development leader Growth and mature assets UK NORWAY NETHERLAND S DENMARK PRODUCTION kboe/d Enterprise GERMANY, ITALY, AUSTRIA Brent NL Offshore Draugen Groningen Actual data up to end 2006

5 ADVANTAGED UPSTREAM PORTFOLIO Strong and diverse portfolio Infrastructure advantage Reputation and performance OIL & GAS GAS Corrib IRELAND Clair Shearwater Schiehallion Nelson S North Sea Gas UK Groningen Onshore gas Offshore gas NETHERLANDS Ormen Lange Draugen Gjøa Troll Statfjord Valhall NORWAY Tempa Rossa Val d’Agri ITALY Dan Halfdan DENMARK Onshore gas GERMANY

6 SHELL TECHNOLOGIES ADD VALUE

7 ORMEN LANGE – A LEGACY ASSET IN THE GLOBAL SHELL PORTFOLIO Ormen Lange fits perfectly into Shell’s growth strategy: More gas Growth in Norway Technology, Integration and Scale

8 ORMEN LANGE - FUTURE CHALLENGES Phase 2: Big investments ahead Still a very technologically challenging project Future gas compression – requires new technology Operational experience will influence future activity level WEST NAVIGATOR DRILLSHIP

9 BUSINESS DEVELOPMENT Growth in Norway 20th Round coming up Onyx development FOCUSED EXPLORATION BIG CAT DISCOVERY NEW ACREAGE LNG REGAS OPTION EXPLORATION POTENTIAL IN EUROPE

10 EXPLORATION DRILLING CAMPAIGN Extensive drilling campaign starting th Round evaluation started Exploiting new technology to increase success rate OPERATED WELLS NON-OPERATED WELLS ATLANTIC MARGIN – NORWAY FOCUS

11 LOFOTEN AND VESTERÅLEN, A POSSIBLE FUTURE OIL AND GAS PROVINCE Seismic indicates possibilities Equal reservoirs to North Sea and Norwegian Sea Environmental sensitive, coexistence with fisheries a prerequisite Important to start exploring High uncertainty Avoid decline of competence

12 Draugen DRAUGEN - OPERATIONAL EXCELLENCE Showcase Asset for mature operations Integrated operations Uptime of 97% Synergies with Ormen Lange

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