Successful Bid for Giant Field in Deep Water Brazil

SHELL ANNOUNCES SUCCESSFUL BID FOR GIANT FIELD IN DEEP WATER BRAZIL October 21, 2013 - HOUSTON - A consortium of companies, including Royal DutchShell plc ("Shell"), Petrobras, Total, CNPC and CNOOC, won today a 35-yearproduction sharing contract to develop the giant Libra pre-salt oil discoverylocated in the Santos Basin, offshore Brazil. The Brazilian regulator, AgênciaNacional do Petróleo (ANP), estimates Libra's recoverable resources of between8 to 12 billion barrels of oil. "The Libra oil discovery in Brazil is one of the largest deep water oilaccumulations in the world. We look forward to applying Shell's global deepwater experience and technology, to support the profitable development of thisexciting opportunity," said Peter Voser, Chief Executive Officer, Royal DutchShell. Shell holds 20% in the consortium, with Petrobras 40% as operator, Total 20%,CNPC 10% and CNOOC 10%. The consortium will work together in an integratedfashion to support Petrobras, the most experienced operator in the Brazilianpre-salt, and will incorporate each company's deep water skills, people andtechnology for the success of the venture. The production sharing contract is expected to be signed in November 2013. Aspart of the winning bid, Shell will pay its 20-percent share of the totalsigning bonus of USD $1.4 billion [3.0 billion reais], and fulfill the minimumwork program no later than end 2017. The ultra-deep water Libra accumulation is located in Santos Basin,approximately 170 kilometers (105 miles) off the coast of Rio de Janeiro. Theblock covers approximately 1,550 square kilometers in water depths of around2,000 meters (6,500 feet). The reservoir depth is around 3,500 meters below thesea floor (11,500 feet). The ANP estimates that total gross peak oil productioncould reach 1.4 million barrels per day. Further appraisal is required to firmup this estimate, the development concept and a first oil date. Shell is one of the industry's pioneers in deep water oil and gas with some330,000 boe/d of production, world-wide, from deep water in 2012. Ourcommitment to technology and innovation continues to be at the core of ourstrategy. As energy projects become more complex and more technicallydemanding, we believe our engineering expertise will be a deciding factor inthe growth of our businesses. Shell was the first International Oil Company to produce on a commercial scalein Brazil and has more than 100 years of history within the country, with circa65,000 boe/d of operated production in 2012. Shell is currently operating twoFloating, Production, Storage and Offloading (FPSO) vessels in Brazil'soffshore - the Espírito Santo at Parque das Conchas and the Fluminense at theBijupirá/Salema fields - and has recently announced projects to expandproduction at both fields. Shell also operates and owns an 80% interest in theBM-S-54 block, where the Gato do Mato discovery is being appraised. Shell hasalso other interests in Brazil, particularly our Lubricants business and ourjoint venture Raízen, the leading sugar cane ethanol producer and fuelsretailer. # # # Enquiries: Media:Shell US Media Relations +1 713 241 4544Shell International Media Relations +44 (0) 20 7934 5550 Shell Brazil Media Relations +55 21 3984 7413 Investor Relations: North America +1 713 241 1042International + 31 (0) 70 377 4540 Cautionary Note The companies in which Royal Dutch Shell plc directly and indirectly ownsinvestments are separate entities. In this announcement "Shell", "Shell group"and "Royal Dutch Shell" are sometimes used for convenience where references aremade to Royal Dutch Shell plc and its subsidiaries in general. Likewise, thewords "we", "us" and "our" are also used to refer to subsidiaries in general orto those who work for them. These expressions are also used where no usefulpurpose is served by identifying the particular company or companies.``Subsidiaries'', "Shell subsidiaries" and "Shell companies" as used in thisannouncement refer to companies over which Royal Dutch Shell plc eitherdirectly or indirectly has control. Companies over which Shell has jointcontrol are generally referred to "joint ventures" and companies over whichShell has significant influence but neither control nor joint control arereferred to as "associates". In this announcement, joint ventures andassociates may also be referred to as "equity-accounted investments". The term"Shell interest" is used for convenience to indicate the direct and/or indirect(for example, through our 23% shareholding in Woodside Petroleum Ltd.)ownership interest held by Shell in a venture, partnership or company, afterexclusion of all third-party interest. This announcement contains forward-looking statements concerning the financialcondition, results of operations and businesses of Royal Dutch Shell. Allstatements other than statements of historical fact are, or may be deemed tobe, forward-looking statements. Forward-looking statements are statements offuture expectations that are based on management's current expectations andassumptions and involve known and unknown risks and uncertainties that couldcause actual results, performance or events to differ materially from thoseexpressed or implied in these statements. Forward-looking statements include,among other things, statements concerning the potential exposure of Royal DutchShell to market risks and statements expressing management's expectations,beliefs, estimates, forecasts, projections and assumptions. Theseforward-looking statements are identified by their use of terms and phrasessuch as ``anticipate'', ``believe'', ``could'', ``estimate'', ``expect'',``goals'', ``intend'', ``may'', ``objectives'', ``outlook'', ``plan'',``probably'', ``project'', ``risks'', "schedule", ``seek'', ``should'',``target'', ``will'' and similar terms and phrases. There are a number offactors that could affect the future operations of Royal Dutch Shell and couldcause those results to differ materially from those expressed in theforward-looking statements included in this announcement, including (withoutlimitation): (a) price fluctuations in crude oil and natural gas; (b) changesin demand for Shell's products; (c) currency fluctuations; (d) drilling andproduction results; (e) reserves estimates; (f) loss of market share andindustry competition; (g) environmental and physical risks; (h) risksassociated with the identification of suitable potential acquisition propertiesand targets, and successful negotiation and completion of such transactions;(i) the risk of doing business in developing countries and countries subject tointernational sanctions; (j) legislative, fiscal and regulatory developmentsincluding regulatory measures addressing climate change; (k) economic andfinancial market conditions in various countries and regions; (l) politicalrisks, including the risks of expropriation and renegotiation of the terms ofcontracts with governmental entities, delays or advancements in the approval ofprojects and delays in the reimbursement for shared costs; and (m) changes intrading conditions. All forward-looking statements contained in thisannouncement are expressly qualified in their entirety by the cautionarystatements contained or referred to in this section. Readers should not placeundue reliance on forward-looking statements. Additional risk factors that mayaffect future results are contained in Royal Dutch Shell's 20-F for the yearended December 31, 2012 (available at www.shell.com/investorand www.sec.gov ).These risk factors also expressly qualify all forward looking statementscontained in this announcement and should be considered by the reader. Eachforward-looking statement speaks only as of the date of this announcement,October 21, 2013. Neither Royal Dutch Shell plc nor any of its subsidiariesundertake any obligation to publicly update or revise any forward-lookingstatement 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 thisannouncement. We may have used certain terms, such as resources, in this announcement thatUnited States Securities and Exchange Commission (SEC) strictly prohibits usfrom including in our filings with the SEC. U.S. Investors are urged toconsider closely the disclosure in our Form 20-F, File No 1-32575, available onthe SEC website www.sec.gov. You can also obtain these forms from the SEC bycalling 1-800-SEC-0330.