Shell delivers first gas from Barracuda Project

PORT-OF-SPAIN,Trinidad,July 22,2021 --Shell Trinidad and Tobago (through BG International,a subsidiary of Royal Dutch Shell plc) today announces that production has started on Block 5C in the East Coast Marine Area (ECMA) in Trinidad and Tobago. This marks a significant milestone in the delivery of gas both domestically and internationally through Atlantic LNG.

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"Today's announcement strengthens the resilience and competitiveness of Shell's position in Trinidad and Tobago," said Maarten Wetselaar,Director of Integrated Gas,Renewable and Energy Solutions. "This is a key growth opportunity that supports our long-term strategy in the country as well as our global LNG growth ambitions."

Block 5C,known as Project Barracuda,is a backfill project with approximately 25,000 barrels of oil equivalent per day (boe/d) (140 mmscf/d) of sustained near-term gas production with peak production expected to be approximately 40,000 boe/d (220 mmscf/d). It is Shell's first greenfield project in the country and one of its largest in Trinidad and Tobago since the BG Group acquisition.

"We are immensely proud of our people and the remarkable work it took to achieve this milestone,particularly given that drilling began in May 2020 during the COVID-19 pandemic," said Eugene Okpere,Shell's Senior VP and Country Chair. "Our execution strategy had to be completely overhauled to deliver our business plan,all while working remotely. It required tremendous resilience,adaptability and commitment."

The ECMA is one of the most prolific gas-producing areas in Trinidad and Tobago. As part of Shell's development strategy,the company has sought ways to access the significant volumes that exist in the ECMA and to bring them online.

Notes to editors

First gas at Barracuda was reached on July 18,2021,and the estimated production for Barracuda represents 100% total gross figures.

The Barracuda project comprises two subsea wells (both 100% Shell owned),one in the Endeavour field and the other in the Bounty field. Both are tied back to Shell's Dolphin platform.

These are two of the deepest development wells in Trinidad and Tobago; Endeavour was drilled to a depth of 20,000 feet (6,096 metres) while Bounty was drilled to a depth of 16,000 feet (4,877 metres).

Shell now looks forward to the delivery of the four-well development project in Block 22 and NCMA 4,known as the Colibri project. This is a joint venture with Heritage Petroleum Company Limited. First gas from Colibri is expected in 2022.

Shell is a major shareholder in Atlantic LNG,a significant global producer of LNG. Our equity in the Atlantic plant ranges from 46% to 57.5% in each of the four trains at the facility.

Shell announced Final Investment Decision for Project Barracuda in January 2020.

Cautionary note

The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this announcement "Shell","Shell Group" and "Group" are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise,the words "we","us" and "our" are also used to refer to Royal Dutch 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 announcement refer to entities over which Royal Dutch 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. 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.

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