Last updated on April 16, 2014 at 17:34 EDT

Shell Increases Participation in the Schiehallion Field and Divests its Canadian Seal Assets

November 14, 2012

THE HAGUE, November 14, 2012 /PRNewswire/ –

Shell (NYSE: RDS.A) (NYSE: RDS.B) announced today the signing of separate agreements
for the acquisition of Murphy Schiehallion Limited 5.9% stake in the Schiehallion field
west of Shetlands and for the sale of Shell’s interest in the Seal area within the Peace
River oil sands of Alberta, Canada to Murphy Oil Company Ltd.

The additional equity in the Schiehallion field brings Shell’s stake to 55% and offers
Shell access to substantial additional reserves and redevelopment potential in the UK, a
current and future heartland for Shell Upstream in Europe. The deepening in Schiehallion
is part of Shell’s continued portfolio optimization and our strategy of sustaining the
existing upstream engine.

Under the agreements Murphy, an active developer in the Seal Area in Canada and
Shell’s partner in a number of assets, will take over Shell’s interest and operatorship of
all the Seal facilities and leases. This divestment does not impact Shell’s focus on
growth activities within other parts of its Peace River leases. Shell has significant land
holdings in the Peace River oil sands and has a regulatory application under review to
increase its thermal production to 80,000 barrels per day with its Carmon Creek Project.

Notes for editors:

        - The Schiehallion field is located in blocks 204 and 205, approximately 175
          kilometres west of the Shetland Islands, off the Scottish coast.
        - Other joint venture partners are BP (Operator) with 33.5%; Statoil - 5.9% and
          OMV 5.9%.
        - In May 2012 Shell signed an agreement with Hess to acquire their 15.7% in the
          Schiehallion field.

Cautionary note
The companies in which Royal Dutch Shell plc directly and indirectly owns investments are
separate 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 in which Royal Dutch Shell either directly or indirectly has control, by
having either a majority of the voting rights or the right to exercise a controlling
influence. The companies in which Shell has significant influence but not control are
referred to as “associated companies” or “associates” and companies in which Shell has
joint control are referred to as “jointly controlled entities”. In this release,
associates and jointly controlled entities are also referred to as “equity-accounted
investments”. The term “Shell interest” is used for convenience to indicate the direct
and/or indirect (for example, through our 23% shareholding in Woodside Petroleum Ltd.)
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”, ”intend”, ”may”, ”plan”, ”objectives”, ”outlook”,
”probably”, ”project”, ”will”, ”seek”, ”target”, ”risks”, ”goals”,
”should” 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 the Shell’s products; (c) currency fluctuations; (d)
drilling and production results; (e) reserve 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 potential litigation and regulatory measures
as a result of climate changes; (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. 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 factors that may affect future results are contained in Royal Dutch
Shell’s 20-F for the year ended 31 December, 2011 (available at
http://www.shell.com/investor and http://www.sec.gov – opens in new window
[http://www.shell.com/home/ExternalLink?SourcesiteId=investor&URL=http%3A%2F%2Fwww.sec.gov%2F ]
). These factors also should be considered by the reader. Each forward-looking
statement speaks only as of the date of this release, 14th November, 2012. Neither Royal
Dutch Shell 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.
There can be no assurance that dividend payments will match or exceed those set out in
this release in the future, or that they will be made at all.

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 release, such as resources and oil in place, that SEC’s guidelines strictly
prohibit us from including in filings with the SEC. U.S. Investors are urged to consider
closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website
http://www.sec.gov – opens in new window
[http://www.shell.com/home/ExternalLink?SourcesiteId=investor&URL=http%3A%2F%2Fwww.sec.gov%2F ]
. You can also obtain these forms from the SEC by calling 1-800-SEC-0330.


Shell Media Relations

– International, UK, European Press: +44-207-934-5550

– Canada: media-desk@shell.com or +1-877-850-5023.

Shell Investor Relations

– Europe – Tjerk Huysinga: +31-70-377-3996

– North America – Ken Lawrence +1-713-241-2069

SOURCE Royal Dutch Shell plc

Source: PR Newswire