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Royal Dutch Shell plc: Gazprom and Shell Agree to Pursue Broader Cooperation

November 30, 2010

MOSCOW, November 30, 2010 /PRNewswire-FirstCall/ — Alexey Miller,
Chairman of the Gazprom Management Committee, and Peter Voser, Chief
Executive Officer of Royal Dutch Shell plc (NYSE: RDS.A; NYSE: RDS.B), signed
a protocol on strategic global cooperation. This agreement establishes basic
guidelines for the companies’ broader collaboration.

    Amongst the opportunities the companies will consider are:

    - Further development of bilateral cooperation in exploration
      and production of hydrocarbons in western Siberia and the far east of
      Russia

    - Cooperation in the downstream oil products business in
      Russia and Europe, as well as Gazprom participation in Shell
      upstream projects outside of Russia.

“This agreement is a vivid example of the mutually beneficial development
of strategic partnership between the world’s largest energy companies. Ahead
of us, we have new large-scale projects and growing joint presence in new
markets”, said Alexey Miller.

“This underscores the strong partnership our companies have built in
recent years,” said Mr. Voser. “Russia is an important area for new energy
development for Shell and I expect it will play a big role in meeting the
world’s growing demand for oil and gas in the years ahead.”

Shell and Gazprom will set up joint working groups to further develop
these opportunities.

Notes to Editors

Shell and Gazprom have been partners since 2007 in the Sakhalin II
project, which constructed Russia’s first liquefied natural gas plant. Shell
and Gazprom Neft are jointly developing a group of Salym oil fields in
western Siberia.

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 90
countries and territories 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. For further information, visit www.shell.com

Cautionary Note

The companies in which Royal Dutch Shell plc directly and indirectly owns
investments are separate entities. In this press 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 press 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 press 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 24% shareholding in Woodside
Petroleum Ltd.) ownership interest held by Shell in a venture, partnership or
company, after exclusion of all third-party interest.

This press 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 press 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 regulatory measures addressing climate
change; (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 press 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 December 31, 2009 (available
at http://www.shell.com/investor and http://www.sec.gov). These factors also
should be considered by the reader. Each forward-looking statement speaks
only as of the date of this press release, 30 November 2010. 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 press release.

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 may have used certain terms in this
press release 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. You can also obtain these forms from the SEC by calling
+1-800-SEC-0330.

SOURCE Royal Dutch Shell plc


Source: newswire



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