HIGHLIGHTS
- Produced 3.2 million boe/d of oil and gas.
- Sold 18.8 million tonnes of LNG.
- Added 1.2 billion boe proved reserves (excluding the year’s production).
- Discovered notable fields offshore French Guiana (Zaedyus, with more than 300 million boe potential on a 100% basis) and offshore Australia (Vos, Satyr and Acme West).
- Brought on-stream three major projects – Qatargas 4, Pearl GTL and AOSP Expansion Phase 1.
- Took 12 final investment decisions: Prelude, North West Shelf – Greater West Flank Phase 1 and Wheatstone LNG in Australia; Clair Phase 2 and Schiehallion Redevelopment in the UK; Sabah Gas Kebabangan in Malaysia; AOSP Debottlenecking, Cardamom and four tight-gas final investments decisions in North America.
- Acquired a 30% interest in the Masela production-sharing contract in Indonesia for some $0.9 billion, thereby acquiring a stake in the Abadi field.
- Signed an agreement with the China National Petroleum Corporation to establish a 50:50 well-manufacturing joint venture.
- Acquired Bow Energy through Arrow Energy LNG for some $0.3 billion (Shell share of funding).
- Divested interests in several Upstream assets, including the Rio Grande Valley south Texas assets in the USA; the natural gas transport infrastructure joint venture Gassled in Norway; Pecten Cameroon Company LLC; and Oil Mining Leases 26 and 42 and related facilities in Nigeria.
| Download XLS |
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KEY STATISTICS | |||||||||||||
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2011 |
2010 |
2009 |
2008 |
2007 | ||||||||
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Upstream earnings ($ million) |
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|
|
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|
Upstream International |
19,697 |
15,205 |
7,209 |
19,298 |
12,453 | ||||||||
|
Upstream Americas |
4,758 |
730 |
1,145 |
7,208 |
5,641 | ||||||||
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Total Upstream earnings ($ million) |
24,455 |
15,935 |
8,354 |
26,506 |
18,094 | ||||||||
|
of which Integrated gas |
7,279 |
5,727 |
1,785 |
4,093 |
3,144 | ||||||||
|
Total Upstream earnings |
20,600 |
14,442 |
8,488 |
23,019 |
16,623 | ||||||||
|
Upstream cash flow from operations |
33,281 |
24,526 |
18,445 |
35,448 |
25,870 | ||||||||
|
Liquids production (thousand b/d) [B][C] |
1,551 |
1,637 |
1,600 |
1,693 |
1,818 | ||||||||
|
Natural gas production (million scf/d) [B] |
8,986 |
9,305 |
8,483 |
8,569 |
8,214 | ||||||||
|
Synthetic oil production (thousand b/d) [B] |
115 |
72 |
80 |
– |
– | ||||||||
|
Mined oil sands production (thousand b/d) [B] |
– |
– |
– |
78 |
81 | ||||||||
|
Total production (thousand boe/d) [B][D] |
3,215 |
3,314 |
3,142 |
3,248 |
3,315 | ||||||||
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Equity LNG sales volume (million tonnes) |
18.8 |
16.8 |
13.4 |
13.1 |
13.2 | ||||||||
|
Upstream net capital investment ($ million) |
19,083 |
21,222 |
22,326 |
28,257 |
13,555 | ||||||||
|
Upstream capital employed ($ million) |
126,437 |
113,631 |
98,826 |
83,997 |
71,711 | ||||||||
|
Upstream employees (thousands) |
27 |
26 |
23 |
22 |
22 | ||||||||
|
UPSTREAM EARNINGS [A] $ billion
[A] Excluding identified items. |
