AUSTIN, Texas, Sept. 14, 2020 /PRNewswire/ -- Studio X, a
first-of-its-kind open innovation studio powered by Shell (NYSE:
RDS), launched today with three initial products to help define the
future of exploration.
Starting with three products focused on exploration and
discovery, Studio X will immediately offer software tools,
on-demand work, prize-winning challenges, mentorship opportunities,
and more to energy innovators.
- 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
Cautionary Note
The companies in which Royal Dutch Shell plc directly and indirectly
owns investments are separate legal entities. In this press
release "Shell", "Shell Group" and "Royal Dutch Shell" are sometimes used for
convenience where references are made to Royal Dutch Shell plc and its subsidiaries in
general. Likewise, the words "we", "us" and "our" are also used to
refer to Royal Dutch Shell plc and
its subsidiaries in general or to those who work for them. These
terms are also used where no useful purpose is served by
identifying the particular entity or entities. ''Subsidiaries'',
"Shell subsidiaries" and "Shell companies" as used in this press
release refer to entities over which Royal Dutch Shell plc either directly or
indirectly has control. Entities and unincorporated arrangements
over which Shell has joint control are generally referred to as
"joint ventures" and "joint operations", respectively.
Entities over which Shell has significant influence but neither
control nor joint control are referred to as "associates". The term
"Shell interest" is used for convenience to indicate the direct
and/or indirect ownership interest held by Shell in an entity or
unincorporated joint arrangement, after exclusion of all
third-party interest.
This press release contains forward-looking statements (within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995) 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 "aim", "ambition",
''anticipate'', ''believe'', ''could'', ''estimate'', ''expect'',
''goals'', ''intend'', ''may'', ''objectives'', ''outlook'',
''plan'', ''probably'', ''project'', ''risks'', "schedule",
''seek'', ''should'', ''target'', ''will'' 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 press release,
including (without limitation): (a) price fluctuations in crude oil
and natural gas; (b) changes in demand for Shell's products; (c)
currency fluctuations; (d) drilling and production results; (e)
reserves estimates; (f) loss of market share 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 regulatory measures addressing climate change; (k)
economic and financial market conditions in various countries and
regions; (l) political risks, including the risks of expropriation
and renegotiation of the terms of contracts with governmental
entities, delays or advancements in the approval of projects and
delays in the reimbursement for shared costs; (m) risks associated
with the impact of pandemics, such as the COVID-19 (coronavirus)
outbreak; and (n) changes in trading conditions. No assurance is
provided that future dividend payments will match or exceed
previous dividend payments. All forward-looking statements
contained in this press release 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. Additional risk factors
that may affect future results are contained in Royal Dutch Shell's
Form 20-F for the year ended December 31, 2019 (available at www.shell.com/investor and
www.sec.gov). These risk factors also expressly qualify all
forward-looking statements contained in this press
release and should be considered by the reader.
Each forward-looking statement speaks only as of the date of this
press release, September 14, 2020. Neither Royal Dutch Shell plc
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
press release.
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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/shell-launches-open-innovation-studio-to-reimagine-the-future-of-work-in-exploration-301129817.html
SOURCE Shell Oil Company