EduBourseActualitésShell Malaysia announces important oil & gas discovery offshore Sabah

Shell Malaysia announces important oil & gas discovery offshore Sabah

Shell Malaysia upstream company, Sabah Shell Petroleum Company Limited, announced today that a Shell – Petronas Carigali – ConocoPhillips joint venture has made another material oil and gas discovery with their recent Ubah-2 exploration well, located in Deepwater Block G, in waters offshore northwest Sabah, Malaysia.

The Ubah-2 exploration well encountered significant hydrocarbon columns in high-quality reservoir rock. The discovery well and an appraisal sidetrack were drilled in a water depth of 1430 meters.

Datuk Jon Chadwick, Chairman of Shell Malaysia, said: “The Ubah discovery is a positive achievement for Malaysia and for the joint venture partners. Shell and its partners are pursuing a business growth strategy that contributes to Malaysia’s economy. The deepwater discoveries we are making offshore Sabah are key cornerstones of this strategy.”

Wouter Hoogeveen, Shell’s Vice President Exploration Asia-Pacific, added: “We are delighted with our third successive deepwater discovery in Sabah. We continue to focus on the delivery of new material discoveries, whilst pursuing rapid appraisal and development of these new fields.”

The joint venture partners in Block G are Shell Malaysia (35% equity), ConocoPhillips (35%) and Petronas Carigali (30%). Shell Malaysia is the operator of the Block on behalf of this partnership.

Royal Dutch Shell plc

Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 145 countries with businesses including oil and gas exploration and production; production and marketing of Liquefied Natural Gas and Gas to Liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects including wind and solar power. For further information, visit www.shell.com.

Disclaimer statement

This announcement contains forward-looking statements, that are subject to risk factors associated with the oil, gas, power, chemicals and renewables business. It is believed that the expectations reflected in these statements are reasonable, but may be affected by a variety of variables which could cause actual results, trends or reserves replacement to differ materially, including, but not limited to: price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimates, loss of market, industry competition, environmental risks, physical risks, risks associated with the identification of suitable potential acquisition properties and targets and the successful negotiation and consummation of transactions, the risk of doing business in developing countries, legislative, fiscal and regulatory developments including potential litigation and regulatory effects arising from recategorisation of reserves, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.

Please refer to the Annual Report on Form 20-F for the year ended December 31, 2004 (as amended) for a description of certain important factors, risks and uncertainties that may affect the Shell Group’s businesses. Neither Royal Dutch Shell plc nor any member of the Shell Group undertakes any obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or other information.

Cautionary Note to US Investors:

The United States Securities and Exchange Commission (‘SEC’) permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation, such as “expected producible resources” and “amount of reserves we expect to produce”, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC.

Pierre Perrin-Monlouis
Pierre Perrin-Monlouis
Fondateur de Rente et Patrimoine (cabinet de gestion de patrimoine), Pierre Perrin-Monlouis est un analyste et trader pour compte propre. Il vous fait profiter de son expérience en trading grâce à ses analyses financières et décrypte pour vous les actualités des marchés. Son approche globale des marchés combine à la fois l'analyse technique et l'analyse fondamentale sur l'ensemble des marchés : crypto, forex, actions et matières premières.
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