Businessweek

Royal Dutch Shell plc operates as an independent oil and gas company worldwide. Businesses The company operates through two businesses, Upstream and Downstream. UPSTREAM This business explores for and extracts crude oil and natural gas, in joint ventures with international and national oil and gas companies. This includes the extraction of bitumen from mined oil sands, which the company converts into synthetic crude oil. It liquefies natural gas by cooling and transport the liquefied natural gas (LNG) to customers across the world. The company also converts natural gas to liquids (GTL) to provide fuels and other products, and it markets and trades natural gas (including LNG) in support of its Upstream businesses. The company’s Upstream business includes Upstream International and Upstream Americas. Upstream International: Upstream International manages the Upstream businesses outside the Americas. It explores for and recovers crude oil, natural gas and natural gas liquids, liquefies and transports gas, and operates the upstream and midstream infrastructure necessary to deliver oil and gas to market. Upstream International also manages the company’s LNG and GTL businesses. Upstream Americas: Upstream Americas manages the Upstream businesses in North and South America. It explores for and recovers crude oil, natural gas and natural gas liquids, transports gas and operates the upstream and midstream infrastructure necessary to deliver oil and gas to market. Upstream Americas also extracts bitumen from oil sands that is converted into synthetic crude oil. Additionally, it manages the U.S.-based wind business. Exploration During 2012, the company participated in 7 notable conventional exploration discoveries and appraisals in Australia, Brazil, Malaysia, Nigeria, and the USA; and 10 notable unconventional appraisals in Australia, Canada, China, and the USA. In 2012, the company participated in 230 productive exploratory wells with proved reserves allocated (its share 168 wells). It also participated in a further 314 wells (its share 214 wells) that remained pending determination as of December 31, 2012. In 2012, the company added acreage to its exploration portfolio primarily from new licenses in Albania, Australia, Benin, Canada, China, Malaysia, New Zealand, Russia, South Africa, Tanzania, the U.K., and the USA. Properties Europe Denmark: The company holds a non-operating interest in a producing concession covering the majority of its activities in Denmark. Ireland: The company is the operator of the Corrib Gas project (its interest 45%), which is at an advanced stage of construction. The Netherlands: The company and ExxonMobil are 50:50 shareholders in Nederlandse Aardolie Maatschappij B.V. (NAM), the hydrocarbon producer in the Netherlands. NAM also has a 60% interest in the Schoonebeek oil field, which has been redeveloped using enhanced oil recovery technology. NAM also operates various other onshore gas fields and offshore gas fields in the North Sea. Norway: The company is a partner in approximately 20 production licenses on the Norwegian continental shelf and are the operator in 6 of these, including the Ormen Lange gas field (its interest 17%) and the Draugen oil field, where the company increased its interest to 44.6%. The company has interests in the Troll, Gjøa, and Kvitebjørn fields, and has further interests in the Valemon field development and various other development assets. The United Kingdom: The company operates various interests on the U.K. Continental Shelf on behalf of a 50:50 joint venture with ExxonMobil. Majority of its U.K. oil and gas production comes from the North Sea. The company holds various non-operated interests in the Atlantic Margin area, principally in the West of Shetlands area. It has increased its interest in the non-operated Schiehallion field to 55%, and in the Beryl area fields, with interests ranging from 25% to 66%. Rest of Europe: The company also has interests in Albania, Austria, Germany, Greece, Hungary, Italy, Slovakia, Spain, and Ukraine. Asia (including the Middle East and Russia) Brunei: The company and the Bru