On Wednesday, Royal Dutch Shell announced its commitment to exploring hydrocarbons in Africa.
According to the company’s exploration manager for deepwater Africa, Benjamin Mee, more than 80% of Shell’s exploration will focus on core positions. Deepwater will be its emphasis. The company plans to allocate USD1.5 billion annually on upstream exploration.
Shell further said that there was no new frontier exploration planned. It will de-risk its current frontier explorations by 2025.
