Exploration
We are committed to delivering more value with less emissions, while working purposefully and profitably toward becoming a net-zero emissions energy business by 2050. This means reducing carbon emissions across our operations and products, while continuing to generate strong returns for our shareholders.
Our Exploration Focus
Exploration plays a key role at the front end of Shell’s intent to create more value with less emissions by focusing on performance, discipline, and simplification across the business. Our exploration programme supports Shell’s target to sustain material liquids production through 2030 and grow total production including gas by around 1% per year to 2030 across our combined Upstream and Integrated Gas businesses.
Our activities are focused in areas where we have differentiated capabilities in Upstream — including Conventional Oil & Gas and Deep Water — and in Integrated Gas. It supports high-margin growth opportunities and provides cost-competitive mitigations to supply gaps and extension of asset life, particularly in Integrated Gas.
Our exploration strategy is driven by a focus on value over volume. We invest in advantaged barrels to support energy security and affordability with lower emissions intensity. In recent years we’ve streamlined our portfolio reflecting a disciplined approach to exploration and new business development. Our portfolio focuses on heartland basins where we have a competitive advantage, supported by existing infrastructure, long-standing stakeholder relationships, and deep technical expertise to unlock growth. In deep water, our activities support near-field exploration, helping to extend the production profile of existing assets.
