The oil and gas industry, and in particular, exploration, is challenged to continuously deliver new volumes in a world where heartlands are getting tired and the big finds are becoming increasingly difficult to make. The industry’s exploration efficiency is driving us towards smaller and, in many cases, more remote, accumulations. But there are still ample resources yet to be discovered. Knowing where the hydrocarbons are, however, is not enough. If we apply the filters of “Accessibility” and “Profitability” we are left with what we call the “new battlegrounds” for exploration. These are the backdrops against which the oil and gas industry will have to operate to fuel the energy demand. In Shell, we have taken stock of where we are and where we want to be to rise to the challenge. Shell’s strategic thrust is to have more upstream and profitable downstream. The bulk of our investment will be in upstream exploration, production and gas supply business. Our exploration strategy has evolved from a focus on asset-driven near field exploration and a very large global spread, to shifting our focus to more material exploration opportunities, in fewer countries and in choice basins. With increased focus on material opportunities, emerging plays, and fostering core knowledge and skills, we believe we <br>are poised to catch the next wave of success through partnership with others. The “new battleground” pushes us to go deeper, be faster and cheaper. As a global leader in Deepwater exploration and development, we have the people, we have the technological edge and we also have the commitment backed by our track record and successes.


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