Shell Egypt participates in Egypt's Virtual Week

In the presence of the Egyptian Prime Minister and the Minister of Petroleum and Mineral Resources

  
Shell Egypt participates in Egypt's Virtual Week

Cairo : Shell Egypt participated in a panel discussion this week entitled, "FUTURE OF OIL & GAS; CHALLENGES AND OPPORTUNITIES". This session is part of Egypt’s Virtual Week activities, which takes place from 9-12 November 2020. The session was attended by H.E. Dr. Tarek El Molla Egyptian Minister of Petroleum and Mineral Resources, as well as select leaders and heads of various international companies operating in the petroleum sector in Egypt.

Egypt’s Virtual Week aims to discuss the country's approach of moving towards a green economy, in all sectors. This approach confirms Egypt’s commitment to achieving the United Nations' Sustainable Development Goals (SDGs), which simultaneously come in line with Egypt’s 2030 vision. This virtual week was organized by the British Egyptian Business Association (BEBA), together with the Egyptian-British Chamber of Commerce, in cooperation with The Ministry of International Trade, as well as the Egyptian Embassy in the United Kingdom.

Additionally, present during Egypt’s Virtual Week were Dr. Mostafa Madbouly, Prime Minister of Egypt, the Ministers of Petroleum and Mineral Resources, Tourism, Planning and Economic development, International Cooperation, Finance, Communications and Information Technology, Transport, Trade and Industry, as well as the ambassadors of Egypt and Britain.

During his participation, Khaled Kacem, Vice President, Country Chairman and Managing Director of Shell Egypt, stated: “We, at Shell, believe that Egypt is a promising and fledging market that is full of economic potential. This conclusion is driven by the rapid growth of Egypt’s population, of around 100 million, as well as its strategic location that links the Middle East, Europe, Africa, and Asia. This makes Egypt an ideal trade hub. Not to mention its ability of implementing economic reform programmes that enabled the country to achieve economic stability and attract more investments further down the road.”

Regarding the energy sector, Kacem explained that the current period is witnessing unprecedented achievements that reflect reaping the benefits of the Egyptian strategy to bring about comprehensive development, at large, to all sectors. He added: "Shell has been a proud operator in Egypt for more than a century. We’re actually very proudly celebrating 110 years in Egypt next year in 2021. And we are also one of the very few integrated energy companies with presence in the full value chain, with activities integrating the upstream, midstream and LNG, trading and downstream, which contributed to strengthening our position as a major player in the Egyptian market.”

“When it comes to the company's performance, since 2018 our exploration acreage footprint (km2) has increased 12 fold with the award of new blocks in the Nile Delta, Red Sea and West Mediterranean.  This is part of Shell Egypt’s refocus strategy to best leverage our expertise in deep water and integrated gas value-chain to deliver the strongest added value to Egypt, and optimize our portfolio to ensure the company delivers a world class investment case,” Kacem added.

 Regarding Shell Egypt’s role in the occupational and environmental safety sector, Kacem stressed on the company's keenness to meet the need for more clean energy solutions in a safe, economic, environmental, and socially responsible manner. He added that attaining the previous goal will be fulfilled by limiting environmental impact pertinent to all the company’s operations and in the communities in which it operates. He also underscores the fact Shell Egypt relentlessly works on the safety of its employees and contractors. Kacem concluded his words by highlighting Shell’s implementation of “Goal Zero" principle of no harm to people and no leaks.

Finally, commenting on the company's performance, in light of the outbreak of the COVID-19 pandemic, Kacem stated that the spread of the virus has led to a change in the lives of citizens all over the world. He stressed that the company's strategy, as a responsible investor, aims to contribute to and support the countries in which it operates, and enabling them to overcome the health crisis and the associated economic ramifications. The company’s local contributions have reached around EGP 6 Million.

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Cautionary Note

The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this press release “Shell”, “Shell Group” and “Royal Dutch Shell” 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 press release 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.

This press 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 Royal Dutch 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 Royal Dutch 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’’, ‘‘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 Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this press release, including (without limitation): (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, 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; 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 press 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 Royal Dutch Shell’s Form 20-F for the year ended December 31, 2019 (available at www.shell.com/investor  and www.sec.gov ). These risk factors also expressly qualify all forward-looking statements contained in this press release and should be considered by the reader. Each forward-looking statement speaks only as of the date of this press release, 9 November 2020. Neither Royal Dutch Shell 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 press release.

We may have used certain terms, such as resources, in this press 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 www.sec.gov 

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