In this publication Upstream includes Exploration & Production, Gas & Power and Oil Sands.
HIGHLIGHTS
- Production of 3.2 million boe/d;
- Added 1.2 billion boe of proved reserves. Made 11 notable discoveries and secured additional exploration rights in Australia, Canada, Colombia, Libya, Sweden and the USA;
- LNG sales volume of 13.1 million tonnes;
- Delivered first production from a number of new 2008 projects, which in Q4 contributed some 80,000 boe/d of new volume;
- Start-up of North West Shelf LNG Train 5 in Australia and Sakhalin II project in Russia increasing Shell’s global LNG production capacity to 18.5 mtpa;
- Two LNG trains under construction in Qatar and Australia; progress was made on major new LNG projects such as Gorgon in Australia;
- New flagship upstream projects such as Perdido in the Gulf of Mexico, BC-10 in Brazil, AOSP 1 in Canada, Gumust-Kakap in Malaysia, Qatar Pearl GTL and Qatargas 4 progressed well;
- Acquisition of Duvernay Oil Corp. and acreage in North America;
- Completed divestments in Australia, Bolivia, Canada, Germany, the Netherlands, Nigeria, the UK and the USA.
| Download XLS |
|
FINANCIAL AND OPERATIONAL HIGHLIGHTS | |||||||||
|---|---|---|---|---|---|---|---|---|---|
|
|
2008 |
2007 |
2006 |
2005 |
2004 | ||||
| |||||||||
|
Segment earnings ($ million) |
|
|
|
|
| ||||
|
Exploration & Production |
20,235 |
14,686 |
14,544 |
13,577 |
9,522 | ||||
|
Gas & Power |
5,328 |
2,781 |
2,633 |
1,378 |
1,774 | ||||
|
Oil Sands |
941 |
582 |
651 |
661 |
301 | ||||
|
Total Upstream earnings ($ million) |
26,504 |
18,049 |
17,828 |
15,616 |
11,597 | ||||
|
Upstream net cash from |
35,460 |
25,832 |
26,429 |
22,115 |
18,978 | ||||
|
Crude oil production (thousand b/d) |
1,693 |
1,818 |
1,948 |
1,998 |
2,173 | ||||
|
Natural gas production |
8,569 |
8,214 |
8,368 |
8,263 |
8,808 | ||||
|
Mined Oil Sands production (thousand b/d) |
78 |
81 |
82 |
95 |
80 | ||||
|
Total production (thousand boe/d) [B] |
3,248 |
3,315 |
3,473 |
3,518 |
3,772 | ||||
|
Equity LNG sales volume (million tonnes) |
13.1 |
13.2 |
12.1 |
10.7 |
10.2 | ||||
|
Oil Sands sales volumes (thousand b/d) |
114 |
125 |
133 |
143 |
127 | ||||
|
Oil Sands upgrader availability (%) |
93 |
89 |
95 |
94 |
92 | ||||
|
Upstream capital investment ($ million) |
32,188 |
21,382 |
20,295 |
13,702 |
11,360 | ||||
|
Upstream capital employed ($ million) |
83,971 |
71,668 |
71,362 |
56,927 |
52,475 | ||||
|
Upstream employees (thousands) |
22 |
22 |
22 |
21 |
19 | ||||
|
EARNINGS [A] $ billion  [A] Excluding identified items. |
OIL AND GAS PRODUCTION million boe/d million tonnes  |
