Shell oil and gas exploration summary Report

Company Report 13 May 2024

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

Shell’s strategy remains focused on embracing the energy transition, with upstream oil and gas funding the transformation of the company’s portfolio. No matter how the transition unfolds over the next decade, upstream will remain core: Shell plans to sustain investment and production for at least the next decade, simplifying and high-grading the portfolio along the way. It has re-engineered its traditional oil and gas businesses to withstand supply-demand disruption and price volatility.

Exploration strategy
Results summary
Current portfolio and exploration outlook
Production and potential cost of production
Value creation
- Namibia provides plenty of running room but development challenges remain
- Deepwater GoM accounts for over half of Shell’s development value across the decade
- Near-field exploration continues to deliver material value

Tables and charts

This report includes the following images and tables:

Shell's current acreage - top 15 countries (in km2)
Net exploration and appraisal wells by country
Exploration & appraisal spend and reinvestment

Exploration success rates
Largest 10 conventional discoveries (net, 2014 to 2023)
Volumes discovered by year
Volumes discovered by water depth
Volumes discovered by country
Volumes discovered by basin
Production from new field discoveries, and as a proportion of all future production
Finding and development costs for added resources
Full-cycle economics
5 more item(s)...