Statement by Royal Dutch Shell Plc: Rosneft and Shell agreed on strategic cooperation

09 Jul 2007
 
On July 6 2007 Rosneft Open Joint Stock Company (Rosneft) and Royal Dutch Shell plc (Shell) concluded an Agreement on Strategic Cooperation. The agreement was signed in Moscow by Rosneft President Sergey Bogdanchikov and Shell Chief Executive Jeroen van der Veer.
 
The Agreement provides the opportunity for joint implementation of upstream and downstream oil and gas projects. It sets the basic principles of strategic cooperation between the two major international energy companies and lays the foundation for a long-term cooperation between Shell and Rosneft both in Russia and elsewhere.

Commenting on the signing of the Agreement on Strategic Cooperation, Rosneft President Sergey Bogdanchikov said: “The agreement reached today will allow our companies to seriously widen the scope and geography of our work. There is no doubt that cooperation between Rosneft and Shell will be beneficial not only from commercial perspective – it is equally important to share experience and technologies”. Rosneft CEO also stressed that the agreement between the two major international publicly traded companies is in the best interest of all their shareholders”.

Jeroen van der Veer said: “Russia is a strategic growth area for Shell and we are committed to developing our business in cooperation with Russian companies across the entire range of the energy business. Shell with its global experience of applying technologies in an integrated way will complement Rosneft’s strengths and experience on the Russian market. We look forward to successful cooperation with Rosneft, one of the leaders of Russian oil and gas sector.”

Disclaimer statement
This announcement contains forward-looking statements 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 ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘intend’’, ‘‘may’’, ‘‘plan’’, ‘‘objectives’’, ‘‘outlook’’, ‘‘probably’’, ‘‘project’’, ‘‘will’’, ‘‘seek’’, ‘‘target’’, ‘‘risks’’, ‘‘goals’’, ‘‘should’’ 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 Report, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for the Group’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserve estimates; (f) loss of market 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 potential litigation and regulatory effects arising from recategorisation of reserves; (k) economic and financial market conditions in various countries and regions; (l) political risks, project delay or advancement, approvals and cost estimates; and (m) changes in trading conditions. All forward-looking statements contained in this presentation 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. Each forward-looking statement speaks only as of the date of this presentation, May 4, 2006. Neither Royal Dutch Shell 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 document.

The United States Securities and Exchange Commission (SEC) permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions.  We use certain terms in this presentation, such as “oil in place” that the SEC’s guidelines strictly prohibit us from including in filings with the SEC.  U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575 and disclosure in our Forms 6-K file No, 1-32575, available on the SEC website www.sec.gov. You can also obtain these forms from the SEC by calling 1-800-SEC-0330.

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