2010-01-14-2009-11-11-2009-11-11

Acquired 33% WI in 32,000 sq. kms. offshore French Guiana.

Dutch major Royal Dutch Shell (NYSE: RDS) has acquired a 33% interest in the Guyane maritime permit, approximately 150 kilometers off the coast of French Guiana, from an affiliate of Tullow Oil Plc, London, (London: TWL) for an undisclosed price. The permit area covers approximately 32,000 square kilometers in 2,000 to 3,000 meters of water. Shell's executive vice president, exploration and commercial, David Lawrence says, "This purchase adds quality acreage to our deepwater portfolio in the Americas. It allows us to apply technical and operating expertise built up over decades of pioneering work in the deep waters of the Gulf of Mexico and elsewhere." The acquisition requires the approval of French authorities. It includes an option to acquire an additional 12% stake at a later date. The partners in the permit area are Tullow's affiliate Hardman Petroleum France SAS (64.5% and operator), Shell Exploration and Production France SAS (33%) and Northpet Investments Ltd. (2.5%). The partners are currently conducting a 3-D seismic research program covering 3,000 square kilometers of the permit area.