Shell seeks exploration momentum despite oil price plunge

The head of Shell's conventional oil and gas exploration says they won't lose sight of the long term

Shell may be scaling back its exploration budget outside the US, but Ceri Powell, the company's head of conventional oil and gas exploration, insists the search for new reserves will continue apace, through a mix of more cost-efficient opportunities close to existing operations and costly deep-water frontier plays.      The company hopes to build on the 41 discoveries it made around the world last year. Powell told journalists at a media briefing at the company's technology centre near The Hague in the Netherlands that the company's drilling "success rate" had been around 80% in 2014, which she said was double the industry average. She highlighted gas finds in Malaysia that contributed 300 m