REG-Royal Dutch Shell: Shell Updates on Alaska Exploration <Origin Href="QuoteRef">RDSa.L</Origin>

ShellAnnouncement

28/09/2015 06:10

SHELL UPDATES ON ALASKA EXPLORATION

The Hague - 28 September 2015. Shell today provides an update on the Burger J
exploration well, located in Alaska's Chukchi Sea.  The Burger J well is
approximately 150 miles from Barrow, Alaska, in about 150 feet of water.  Shell
safely drilled the well to a total depth of 6800 feet this summer in a basin
that demonstrates many of the key attributes of a major petroleum basin.  For
an area equivalent to half the size of the Gulf of Mexico, this basin remains
substantially under-explored.

Shell has found indications of oil and gas in the Burger J well, but these are
not sufficient to warrant further exploration in the Burger prospect.  The well
will be sealed and abandoned in accordance with U.S. regulations.  

"The Shell Alaska team has operated safely and exceptionally well in every
aspect of this year's exploration program," said Marvin Odum, Director, Shell
Upstream Americas.  "Shell continues to see important exploration potential in
the basin, and the area is likely to ultimately be of strategic importance to
Alaska and the US. However, this is a clearly disappointing exploration outcome
for this part of the basin."

Shell will now cease further exploration activity in offshore Alaska for the
foreseeable future. This decision reflects both the Burger J well result, the
high costs associated with the project, and the challenging and unpredictable
federal regulatory environment in offshore Alaska.

The company expects to take financial charges as a result of this announcement.
The balance sheet carrying value of Shell's Alaska position is approximately
$3.0 billion, with approximately a further $1.1 billion of future contractual
commitments. An update will be provided with the third quarter 2015 results.

Shell holds a 100% working interest in 275 Outer Continental Shelf blocks in
the Chukchi Sea.

Operations will continue to safely de-mobilize people and equipment from the
Chukchi Sea.

Ends

Enquiries

Shell Media Relations
International: +44 207 934 5550
Americas: +1 713 241 4544

Shell Investor Relations
Europe: + 31 70 377 4540
North America: +1 832 337 2034

Cautionary Note

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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 risk factors that may affect
future results are contained in Royal Dutch Shell's 20-F for the year ended
December 31, 2014 (available at www.shell.com/investor and www.sec.gov ). These
risk factors also expressly qualify all forward looking statements contained in
this release and should be considered by the reader.  Each forward-looking
statement speaks only as of the date of this release, September 28, 2015.
Neither Royal Dutch Shell plc 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.

We may have used certain terms, such as resources, in this release that United
States Securities and Exchange Commission (SEC) strictly prohibits us from
including in our 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 www.sec.gov.



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