Shell Open to Offshore Drilling

One of the largest petroleum companies in the world, Royal Dutch Shell retains its strength in the upstream market through steady exploration and development drilling. While the price of oil and gas dropped in the last year, Shell has continued its strategy of increasing upstream developments, but reined in the number of projects launched in an effort to overcome cost challenges. Despite this, the company plans to grow production numbers 2 to 3% annually for the next three years.
Having added 1.2 Bboe to its portfolio through the drill bit in 2008 alone, Shell is currently in the process of bringing three major deepwater projects on-line, including BC-10 in Brazil, Gumusut-Kakap in Malaysia and Perdido in the US Gulf of Mexico. Additionally, Norway’s second-largest gas field and the country’s first deepwater field Ormen Lange is currently undergoing further development to add to production that has already begun.

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