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Shell committed to explore hydrocarbons in Africa

Reuters
Updated ·1-min read
FILE PHOTO: Shell launches REFHYNE hydrogen electrolysis plant in Wesseling

DUBAI (Reuters) - Royal Dutch Shell is currently committed to exploring in Africa for hydrocarbons and doing so fits the company's purpose, its exploration manager for deepwater Africa Benjamin Mee said on Wednesday at an industry event.

More than 80% of Shell's exploration will be focused on core positions with an emphasis on deepwater and the company plans to spend about $1.5 billion per year on upstream exploration, Mee added.

The company does not anticipate new frontier exploration and plans to de-risk its current ones by 2025.

(Reporting by Yousef Saba; Writing by Nadine Awadalla; Editing by Louise Heavens)