Shell Offshore Inc., a subsidiary of Shell plc (Shell), announced the acquisition of a 30% interest in Conifer, an exploration prospect operated by BP Exploration and Production (BP) in the US Gulf of America near bp’s Kaskida host development.

“The Gulf of America (GoA) remains a world-class basin, and we are continually looking for opportunities to grow our position and create value,” said Colette Hirstius, Shell’s Executive Vice President for GoA and Shell USA President. “Conifer is another way to strengthen our position in this highly competitive region.”

Shell is the largest producing leaseholder in the GoA, where our production has among the lowest greenhouse gas (GHG) intensity in the world for producing oil.

Notes:

T  - he Conifer prospect in the GoA is located offshore within Keathley Canyon, approximately 250 miles southwest of New Orleans.
  - BP currently holds 100% Working Interest in Kaskida and would retain operatorship following the completion of this deal.
  - The initial exploration well for Conifer is currently expected to spud in 2027.
  - The reference to our GoA production having among the lowest GHG intensity in the world is a comparison among other IOGP oil-and gas-producing members.

About Shell plc

Shell plc is incorporated in England and Wales, has its headquarters in London and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.

About bp

bp (NYSE: BP, LSE: BP.L) is one of the world's largest oil and gas companies, serving millions of customers every day in more than 80 countries, and employing nearly 85,000 people. BP's business segments are oil and gas exploration & production, and refining & marketing. In alternative energies, BP has low- and no-carbon wind and biofuels businesses. Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbons basins and strong market positions in key economies.