{"organism":"Page","children":[{"organism":"Container.Raw","children":[{"organism":"Metadata","color":"yellow","model":{"title":"Shell invests in water injection at Gulf of Mexico field","text":"\u003Cp\u003E\u003Cb\u003EHouston, Texas\u003C/b\u003E - Shell Offshore Inc. (Shell), a subsidiary of Shell plc, has taken a Final Investment Decision (FID) on a ‘waterflood’ project at its Vito asset in the US Gulf of Mexico. Water will be injected into the reservoir formation to displace additional oil.\u003C/p\u003E\r\n","links":[{"name":"Shell invests in water injection at Gulf of Mexico field","value":"https://www.shell.us/about-us/news-and-insights/media/2024-media-releases/shell-invests-in-water-injection-at-gulf-of-mexico-field.html"}],"image":{"src":"https://www.shell.us/about-us/news-and-insights/media/2024-media-releases/shell-invests-in-water-injection-at-gulf-of-mexico-field/_jcr_content/root/metadata.shellimg.png/1730793790648/vito-offshore.png","alt":"Vitto Offshore","width":4235,"height":2392},"date":"2024-08-14T08:01:00Z"},"id":"/content/shell/countries/united-states/en_us/about-us/news-and-insights/media/2024-media-releases/shell-invests-in-water-injection-at-gulf-of-mexico-field/jcr_content/root/metadata"},{"organism":"ContentOwner","color":"yellow","model":{},"id":"/content/shell/countries/united-states/en_us/about-us/news-and-insights/media/2024-media-releases/shell-invests-in-water-injection-at-gulf-of-mexico-field/jcr_content/root/contentowner"},{"organism":"Container.Header","children":[{"organism":"Container.Raw","ref":"https://www.shell.us/about-us/_jcr_content/root/header/inherited.model.json","id":"/content/shell/countries/united-states/en_us/about-us/news-and-insights/media/2024-media-releases/shell-invests-in-water-injection-at-gulf-of-mexico-field/jcr_content/root/header/inherited","model":{}},{"organism":"Breadcrumb","model":{"links":[{"name":"Home","value":"https://www.shell.us/"},{"name":"About Us","value":"https://www.shell.us/about-us.html"},{"name":"News and insights","value":"https://www.shell.us/about-us/news-and-insights.html"},{"name":"Media","value":"https://www.shell.us/about-us/news-and-insights/media.html"},{"name":"2024 Media releases","value":"https://www.shell.us/about-us/news-and-insights/media/2024-media-releases.html"},{"name":"Shell invests in water injection at Gulf of Mexico field","value":"https://www.shell.us/about-us/news-and-insights/media/2024-media-releases/shell-invests-in-water-injection-at-gulf-of-mexico-field.html"}]},"id":"/content/shell/countries/united-states/en_us/about-us/news-and-insights/media/2024-media-releases/shell-invests-in-water-injection-at-gulf-of-mexico-field/jcr_content/root/header/breadcrumb"}],"id":"/content/shell/countries/united-states/en_us/about-us/news-and-insights/media/2024-media-releases/shell-invests-in-water-injection-at-gulf-of-mexico-field/jcr_content/root/header","model":{}},{"organism":"Container.Main","children":[{"organism":"Container.Section","children":[{"organism":"PageHeader.Date","color":"inherited","model":{"title":"Shell invests in water injection at Gulf of Mexico field","text":"\u003Cp\u003E\u003Cb\u003EHouston, Texas\u003C/b\u003E - Shell Offshore Inc. (Shell), a subsidiary of Shell plc, has taken a Final Investment Decision (FID) on a ‘waterflood’ project at its Vito asset in the US Gulf of Mexico. Water will be injected into the reservoir formation to displace additional oil.\u003C/p\u003E\r\n\r\n\r\n","image":{"src":"https://www.shell.us/about-us/news-and-insights/media/2024-media-releases/shell-invests-in-water-injection-at-gulf-of-mexico-field/_jcr_content/root/main/section_top/page_header.shellimg.png/1730793851471/vito-offshore.png","alt":"Vitto Offshore","width":4282,"height":1071},"date":"2024-08-14T08:01:00Z"},"id":"/content/shell/countries/united-states/en_us/about-us/news-and-insights/media/2024-media-releases/shell-invests-in-water-injection-at-gulf-of-mexico-field/jcr_content/root/main/section_top/page_header"},{"organism":"Container","colspan":8,"children":[{"organism":"PromoSimple.Text","color":"brand1","id":"/content/shell/countries/united-states/en_us/about-us/news-and-insights/media/2024-media-releases/shell-invests-in-water-injection-at-gulf-of-mexico-field/jcr_content/root/main/section_top/section_main/text","model":{"text":"\u003Cp style=\"line-height: 1.5; margin: 0px 0px 0.625rem; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003EThe process is due to begin in 2027 and is expected to significantly enhance volume capacity at the Vito field.\u003C/p\u003E\r\n\u003Cp style=\"line-height: 1.5; margin: 0.625rem 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003E“Over time, we’ve seen the benefits of waterflood as we look to fill our hubs in the Gulf of Mexico,” said Zoë Yujnovich, Shell Integrated Gas and Upstream Director. “This investment will deliver additional high-margin, lower-carbon barrels from our advantaged Upstream business while maximizing our potential from Vito.”\u003C/p\u003E\r\n\u003Cp style=\"line-height: 1.5; margin: 0.625rem 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003EWaterflood is a method of secondary recovery where the injected water physically sweeps the displaced oil to adjacent production wells, while re-pressurizing the reservoir. The three water injection wells were all drilled as pre-producers.\u003C/p\u003E\r\n\u003Cp style=\"line-height: 1.5; margin: 0.625rem 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003EShell is the leading deep-water operator in the U.S. Gulf of Mexico, where our production has among the lowest greenhouse gas (GHG) intensity in the world for producing oil.\u003C/p\u003E\r\n\u003Ch3 style=\"font-family: type-font, Arial, Roboto, Helvetica, sans-serif; margin: 1.25rem 0px 0.625rem; line-height: 1.5; font-size: 1.25rem; color: rgb(64, 64, 64);\"\u003ENotes to editors\u003C/h3\u003E\r\n\u003Cul style=\"padding: 0px; margin: 0.625rem 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003E\r\n\u003Cli style=\"line-height: 1.5; list-style-position: inside; margin: 0px; left: 0px; padding: 0px 1.625rem; position: relative; list-style-type: square; box-sizing: border-box;\"\u003EIn July 2009, the Vito field was discovered in more than 4,000 feet of water approximately 75 miles south of Venice, LA, 150 miles southeast of New Orleans and 10 miles south of the Shell-operated Mars TLP.\u003C/li\u003E\r\n\u003Cli style=\"line-height: 1.5; list-style-position: inside; margin: 0px; left: 0px; padding: 0px 1.625rem; position: relative; list-style-type: square; box-sizing: border-box;\"\u003EIn 2015, the original Vito host design was simplified and rescoped, resulting in a reduction of approximately 80% in CO\u003Cspan style=\"vertical-align: initial; line-height: 0; position: relative; font-size: 0.65625rem; bottom: -0.164062rem;\"\u003E2\u003C/span\u003E emissions over the lifetime of the facility as well as a cost reduction of more than 70% from the original host design concept.\u003C/li\u003E\r\n\u003Cli style=\"line-height: 1.5; list-style-position: inside; margin: 0px; left: 0px; padding: 0px 1.625rem; position: relative; list-style-type: square; box-sizing: border-box;\"\u003EShell (Operator 63.11%) and Equinor (36.89%) announced FID for the Vito development in April 2018, with first oil achieved in February 2023.\u003C/li\u003E\r\n\u003Cli style=\"line-height: 1.5; list-style-position: inside; margin: 0px; left: 0px; padding: 0px 1.625rem; position: relative; list-style-type: square; box-sizing: border-box;\"\u003EGiven the properties of the Vito reservoir, energy is required to maximize the producing rate of existing wells and thus ultimate recovery.\u003C/li\u003E\r\n\u003Cli style=\"line-height: 1.5; list-style-position: inside; margin: 0px; left: 0px; padding: 0px 1.625rem; position: relative; list-style-type: square; box-sizing: border-box;\"\u003EThe Vito waterflood project will increase recoverable resource volume by 60 million boe. The estimate of resources volumes is currently classified as 2P and 2C under the Society of Petroleum Engineers’ Resource Classification System.\u003C/li\u003E\r\n\u003Cli style=\"line-height: 1.5; list-style-position: inside; margin: 0px; left: 0px; padding: 0px 1.625rem; position: relative; list-style-type: square; box-sizing: border-box;\"\u003EThe reference to our U.S. Gulf of Mexico production having among the lowest GHG intensity in the world is a comparison among other IOGP oil-and gas-producing members.\u003C/li\u003E\r\n\u003Cli style=\"line-height: 1.5; list-style-position: inside; margin: 0px; left: 0px; padding: 0px 1.625rem; position: relative; list-style-type: square; box-sizing: border-box;\"\u003EAs communicated at Shell’s Capital Markets Day in 2023, we plan to see production stabilise at 1.4 million barrels per day of liquids to 2030.\u003C/li\u003E\r\n\u003Cli style=\"line-height: 1.5; list-style-position: inside; margin: 0px; left: 0px; padding: 0px 1.625rem; position: relative; list-style-type: square; box-sizing: border-box;\"\u003EThe estimated recoverable resources presented above are 100% total gross figures.\u003C/li\u003E\r\n\u003C/ul\u003E\r\n\u003Ch3 style=\"font-family: type-font, Arial, Roboto, Helvetica, sans-serif; margin: 1.25rem 0px 0.625rem; line-height: 1.5; font-size: 1.25rem; color: rgb(64, 64, 64);\"\u003EEnquiries\u003C/h3\u003E\r\n\u003Cp style=\"line-height: 1.5; margin: 0.625rem 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003E\u003Cb\u003EAmericas Media Relations: \u003C/b\u003E\u003Ca href=\"https://www.shell.us/about-us/news-and-insights/media/submit-an-inquiry.html\"\u003EAmericas Media\u003C/a\u003E\u003Cbr\u003E\r\n\u003Cb\u003EUK / International Media Relations:\u003C/b\u003E\u003Cspan style=\"font-weight: 700;\"\u003E \u003C/span\u003E+44 20 7934 5550\u003C/p\u003E\r\n\u003Ch3 style=\"font-family: type-font, Arial, Roboto, Helvetica, sans-serif; margin: 1.25rem 0px 0.625rem; line-height: 1.5; font-size: 1.25rem; color: rgb(64, 64, 64);\"\u003ECautionary note\u003C/h3\u003E\r\n\u003Cp style=\"line-height: 1.5; margin: 0.625rem 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003EThe companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this media release, “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this media release refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. “Joint ventures” and “joint operations” are collectively referred to as “joint arrangements”. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.\u003C/p\u003E\r\n\u003Cp style=\"line-height: 1.5; margin: 0.625rem 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003E\u003Cb\u003EForward-Looking Statements\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp style=\"line-height: 1.5; margin: 0.625rem 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003EThis media release contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition”, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, “milestones”, ‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this media release, including (without limitation): \u003Ca class=\"text-link link-info\" style=\"line-height: 1.5; text-decoration-line: underline; font-weight: 700; color: inherit;\"\u003E\u003C/a\u003E(a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak, regional conflicts, such as Russia’s invasion of Ukraine, and a significant cybersecurity breach; and (n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this media 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 Shell plc’s Form 20-F for the year ended December 31, 2022 (available at \u003Ca href=\"https://www.shell.com/investors/news-and-filings/sec-filings.html\"\u003Ewww.shell.com/investors/news-and-filings/sec-filings.html\u003C/a\u003E\u003Cspan style=\"font-weight: 700;\"\u003E \u003C/span\u003Eand\u003Cspan style=\"font-weight: 700;\"\u003E \u003Ca data-rte-link=\"true\" href=\"https://www.sec.gov/\" class=\"text-link link-info tracking-progression\" data-type=\"external\" target=\"_blank\" data-tracking=\"external\" role=\"button\" style=\"line-height: 1.5;\"\u003Ewww.sec.gov\u003C/a\u003E\u003C/span\u003E). These risk factors also expressly qualify all forward-looking statements contained in this media release and should be considered by the reader. Each forward-looking statement speaks only as of the date of this media release, August 14, 2024. Neither \u003Ca class=\"text-link link-info\" style=\"line-height: 1.5; text-decoration-line: underline; font-weight: 700; color: inherit;\"\u003E\u003C/a\u003EShell 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 media release.\u003C/p\u003E\r\n\u003Cp style=\"line-height: 1.5; margin: 0.625rem 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003E\u003Cb\u003EShell’s net carbon intensity\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp style=\"line-height: 1.5; margin: 0.625rem 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003EAlso, in this media release we may refer to Shell’s “Net Carbon Intensity”, which includes Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell only controls its own emissions. The use of the term Shell’s “Net Carbon Intensity” is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.\u003C/p\u003E\r\n\u003Cp style=\"line-height: 1.5; margin: 0.625rem 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003E\u003Cb\u003EShell’s net-Zero Emissions Target\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp style=\"line-height: 1.5; margin: 0.625rem 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003EShell’s operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, they reflect our Scope 1, Scope 2 and Net Carbon Intensity (NCI) targets over the next ten years. However, Shell’s operating plans cannot reflect our 2050 net-zero emissions target and 2035 NCI target, as these targets are currently outside our planning period. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.\u003C/p\u003E\r\n\u003Cp style=\"line-height: 1.5; margin: 0.625rem 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003EShell expects to publish its 2024 Energy Transition Strategy on March 14, 2024, which will include an update on Shell’s energy transition strategy and set out Shell’s climate targets and ambitions for the future.\u003C/p\u003E\r\n\u003Cp style=\"line-height: 1.5; margin: 0.625rem 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003E\u003Cb\u003EForward Looking Non-GAAP measures\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp style=\"line-height: 1.5; margin: 0.625rem 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003EThis media release\u003Ca class=\"text-link link-info\" style=\"line-height: 1.5; text-decoration-line: underline; font-weight: 700; color: inherit;\"\u003E\u003C/a\u003E may contain certain forward-looking non-GAAP measures such as cash capital expenditure and divestments. We are unable to provide a reconciliation of these forward-looking Non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those Non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc’s consolidated financial statements.\u003C/p\u003E\r\n\u003Cp style=\"line-height: 1.5; margin: 0.625rem 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003EThe contents of websites referred to in this media release do not form part of this media release.\u003C/p\u003E\r\n\u003Cp style=\"line-height: 1.5; margin: 0.625rem 0px 0px; color: rgb(64, 64, 64); font-family: Arial, Roboto, Helvetica, sans-serif; font-size: 14px;\"\u003EWe may have used certain terms, such as resources, in this media release that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website \u003Ca href=\"https://www.sec.gov/\" data-rte-link=\"true\" class=\"text-link link-info tracking-progression\" data-type=\"external\" target=\"_blank\" data-tracking=\"external\" role=\"button\" style=\"line-height: 1.5; font-weight: 700;\"\u003Ewww.sec.gov\u003C/a\u003E.\u003C/p\u003E\r\n"}}],"id":"/content/shell/countries/united-states/en_us/about-us/news-and-insights/media/2024-media-releases/shell-invests-in-water-injection-at-gulf-of-mexico-field/jcr_content/root/main/section_top/section_main","model":{}},{"organism":"Container","colspan":4,"children":[{"organism":"Container","children":[{"organism":"CallToAction.Stacked","color":"brand3","id":"/content/experience-fragments/shell/countries/united-states/news-promo/master/jcr_content/root/call_to_action","model":{"links":[{"name":"Submit an Enquiry","value":"https://www.shell.us/about-us/news-and-insights/media/submit-an-inquiry.html","icon":"/content/dam/shell/icons/global/technology/mail-closed-hollow.svg"}]}},{"organism":"PromoCard","color":"brand1-subtle","id":"/content/experience-fragments/shell/countries/united-states/news-promo/master/jcr_content/root/promo","model":{"title":"Moving Forward with Everybody","text":"\u003Cp\u003EWe’re finding ways to bring energy to more people in more ways every day, so that all of us can be a part of the changing energy system. 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