Highlights 2011

FIRST
QUARTER

Deep-water oil discovery in Brunei
Brunei Shell Petroleum confirmed a significant new oil discovery in the waters of the south-east Asian sultanate. The discovery, named Geronggong, is situated in the 3rd Offshore Acreage Area, about 100 km offshore Brunei.

Sale of Stanlow refinery to Essar Oil
Shell agreed to sell its Stanlow refinery in the UK and certain associated local marketing businesses to Essar Oil (UK) Ltd for a total consideration of some $1.2 billion (including some $0.9 billion for working capital).

Agreement to divest African downstream businesses
Shell agreed to divest the majority of its shareholding in most of its African downstream businesses to Vitol and Helios Investment Partners for a total consideration of some $1 billion. Shell retains equity in two new jointventure companies that will continue to market Shell fuels and lubricants in Africa.

SECOND
QUARTER

Expansion of oil-sands upgrader
Shell successfully started the production from its Scotford Upgrader Expansion project in Canada. The 100 thousand barrels-per-day expansion boosts upgrading capacity at Scotford to 255 thousand barrels per day of heavy oil from the Athabasca oil sands.

Global cooperation agreement
with CNPC
Shell and China National Petroleum Company (CNPC) announced their shared intent to pursue mutually beneficial cooperation opportunities internationally as well as in China.

Launch of biofuels JV Raízen
Shell and Cosan launched Raízen, a multibillion-dollar joint venture that will become a leading producer of a low-carbon biofuel: ethanol made from sugar cane.

Final investment decision on
Prelude FLNG
Shell decided to move forward with its game-changing Prelude floating LNG (FLNG) project in Australia.

Final investment decision on development of deep-water field in Gulf of Mexico
Shell announced a significant investment to develop its major Cardamom oil and gas field in the deep waters of the Gulf of Mexico. The Cardamom project is expected to produce 50 thousand boe/d at peak production.

First cargo of Pearl GTL products
The Pearl gas-to-liquids (GTL) plant, located in Ras Laffan Industrial City in Qatar, sold its first commercial shipment of GTL Gasoil.

THIRD
QUARTER

Proposed acquisition of Bow Energy
Arrow Energy Holdings Pty Ltd (Arrow) made proposal to Bow Energy Ltd (Bow Energy) to acquire all of the issued capital in Bow Energy.

Deep-water oil discovery in French Guiana
Shell confirmed a notable oil discovery in the Guyane Maritime permit approximately 150 km offshore French Guiana.

FOURTH
QUARTER

New PSCs in Malaysia
Petronas and Shell Malaysia signed a heads of agreement for two 30-year production-sharing contracts (PSCs) for enhanced oil recovery projects offshore Sarawak and Sabah.

Final approval of Iraq natural-gas JV
The Iraqi cabinet approved an agreement with Shell and Mitsubishi Corporation forming a joint venture to gather raw gas from three major oil fields.

Agreement to develop petrochemical complex in Qatar
Qatar Petroleum and Shell agreed to develop a worldscale petrochemical complex in Ras Laffan Industrial City, Qatar.

Inauguration of Pearl GTL Project
The Emir of Qatar officially inaugurated the Pearl gas-to-liquids (GTL) project, the largest GTL plant in the world and the largest energy project in Qatar.