Shell to Spend More Than $100 Billion to Boost Output

March 16 (Bloomberg) -- Royal Dutch Shell Plc, reeling from seven years of falling output, will spend more than $100 billion by 2014 to revive production growth.

Shell, vying with BP Plc as Europe’s biggest oil company, expects output to rise by 11 percent to 3.5 million barrels of oil equivalent a day in 2012. The company is assessing more than 35 projects that may add 8 billion barrels of oil equivalent resources, boosting production until 2020.

“We are making substantial investments in new projects to drive Shell’s financial performance,” Chief Executive Officer Peter Voser said today in a statement. “We have a tremendous opportunity set for the 2015-2020 timeframe.”