Shell news

Shell Overseas Investments B.V. and B.V. Dordtsche Petroleum Maatschappij – subsidiaries of Shell plc – have signed an agreement to sell Shell Neft LLC, which owns Shell’s retail and lubricants businesses in Russia, to PJSC LUKOIL.

Shell Brasil Petróleo Ltda has announced the start of production of the FPSO Guanabara in the Mero field, offshore Santos Basin in Brazil.

Shell has published its Energy Transition Progress Report 2021 detailing the company’s progress over the past year. This report will be put to shareholders for an advisory vote at the Annual General Meeting on 24 May 2022.

PowerNap is a subsea tie-back to the Shell-operated Olympus TLP, located in the US Gulf of Mexico with an estimated peak production of 20 000 boe/d.

The exploration blocks are located off the coasts of Sabah and Sarawak.

Shell said in the new environmental development plan of the Jackdaw field that it aims to start production from the field, which will supply 6.5% of Britain's gas output, by 3Q25 or 4Q25.

Shell has announced its intent to withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and LNG.

At the end of 2021, Shell had around US$3 billion in non-current assets in Russia.

Phase 1 of the Herschel Expansion project comprises development of a new subsea production system and the first of up to three wells tied to the Na Kika platform.

It is anticipated that further exploration activity, including a second exploration well, will be required to determine the size and recoverable potential of the identified hydrocarbons at the Graff-1 deepwater exploration well.