Shell, Maersk Offer Bids for Offshore Danish Project

Shell and Maersk Oil as the operator (the Partners) are jointly offering up to 60% interest in the Elly and Luke development project located near the existing Tyra gathering, treating and transportation infrastructure. The Partners are in the advanced stages of planning for the combined development of the Elly and Luke discoveries that will deliver hydrocarbons into the Danish and Dutch gas transmission systems. The Luke and Elly fields are expected to yield mean recoverable gas resources of 180 BCF, with upside estimated at 430 BCF. In addition, exploration prospects in the licenses have potential mean recoverable gas resources estimated at 140 BCF with an upside of 422 BCF.