Shell Launches Open Innovation Studio to Reimagine the Future of Work in Exploration

• Xeek is the home for crowdsourcing revolutionary geoscience ideas. We unite data scientists and geoscientists from all over the world in a community dedicated to tackling complex problems with brilliant solutions.
• XCover is a global talent network for virtual exploration projects. We match specialized geoscience talent to a variety of rewarding exploration projects run from state-of-the-art virtual workstations, enabling you to execute projects from anywhere in the world at any time.
• SixLab is a no-strings attached incubator, powered by Shell, that provides exploration entrepreneurs with access to world-class mentorship, resources, and facilities to help shape the future of energy.

"Studio X brings tech advances at a challenging time for exploration and the global economy," said Mauhan Zonoozy, Acting GM of Studio X. "The technology within will lead to better ways of working in the exploration field -- increasing collaboration and ultimately improving outcomes. Studio X will fuel big ideas, connect a network of global talent with remote work opportunities, empower and guide entrepreneurs and startups, and crowdsource bold solutions to make the ideas of today into the industry-leading tools of tomorrow."

While technology and innovation are constantly being introduced, the ways of working in the exploration space have generally remained the same until now. Studio X will break down silos, improve outcomes, and increase collaboration, using a flexible workforce.

"Studio X was developed by Shell to reimagine the future of work in exploration," said Marc Gerrits, Shell's Executive Vice President of Global Exploration. "To meet increasing global energy demand, oil and gas will remain an element of the energy mix for decades to come. By harnessing efficiencies, embracing new technologies, and deploying digital capabilities, Studio X will be at the forefront as the exploration profession evolves."

In launching Studio X, Shell (or potentially third-party project sponsors) offers real-world projects with data to an untapped worldwide network of scientists, entrepreneurs, and tech leaders - crowdsourcing ideas and nurturing companies to usher in a new chapter in exploration.

"Studio X couldn't come at a more important time in our industry - especially given the ongoing global pandemic," said Michael Tischer, exploration geoscientist and XCover Explorer-In-Residence. "In addition to its first physical studio located in Austin, TX Studio X offers remote work opportunities - eliminating geographic constraints. Scientists, researchers, and innovators can participate on their own terms, either between projects or as a full-time endeavor. That's especially appealing for those who have worked in this industry and are looking for new forums to share their ideas."

For more information on Studio X and its products, visit www.x.studio.  

About Shell 
Shell is a global group of energy and petrochemical companies with an average of 86,000 employees in more than 70 countries. Our strategy is to strengthen our position as a leading energy company by providing oil and gas and low-carbon energy as the world's energy system changes. Safety and social responsibility are at the heart of our approach. We believe that oil and gas will remain a vital part of the global energy mix for many decades to come. Our aim is to meet the world's growing need for more and cleaner energy solutions in ways that are economically, environmentally and socially responsible. For more information visit www.shell.com

About DV
BCG Digital Ventures (BCGDV) is the corporate innovation and digital business building arm of Boston Consulting Group. The organization invents, launches, scales, and invests in industry-changing new businesses with the world's most influential companies. BCGDV's diverse, multidisciplinary team of entrepreneurs, operators, and investors work cross-functionally, rapidly moving from idea to market in less than 12 months. Founded in 2014, the organization has 12 Innovation Centers and satellite locations around the world. www.bcgdv.com

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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.  

Notes to editor

Shell Exploration division led Studio X through initial incubation, supported by BCG Digital Ventures, the corporate innovation and digital business building arm of Boston Consulting Group.

Studio X is a company wholly owned by Shell, but managed independently.

SOURCE Shell Oil Company

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