{"id":12722,"date":"2015-09-28T06:33:33","date_gmt":"2015-09-28T11:33:33","guid":{"rendered":"http:\/\/olduvai.ca\/?p=12722"},"modified":"2015-09-28T06:33:33","modified_gmt":"2015-09-28T11:33:33","slug":"shell-ends-exploration-in-arctic-near-alaska-for-the-foreseeable-future","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=12722","title":{"rendered":"Shell ends exploration in Arctic near Alaska ‘for the foreseeable future’"},"content":{"rendered":"
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Shell ends exploration in Arctic near Alaska ‘for the foreseeable future’<\/a><\/h3>\n<\/div>\n

Shell spent upward of $7 billion US on offshore development in Chukchi, Beaufort seas<\/strong><\/p>\n

Royal Dutch Shell will cease exploration in Arctic waters off Alaska’s coast following disappointing results from an exploratory well it just completed.<\/p>\n

Shell found indications of oil and gas in the well in the Chukchi Sea about 120 kilometres off Alaska’s northwest coast, the company said Monday in a release from The Hague, Netherlands. However, the petroleum was not in quantities sufficient to warrant additional exploration in that portion of the basin, the company said.<\/p>\n

“Shell continues to see important exploration potential in the basin, and the area is likely to ultimately be of strategic importance to Alaska and the U.S.,” said Marvin Odum, president of Shell USA, in the announcement. “However, this is a clearly disappointing exploration outcome for this part of the basin.”<\/p>\n

Shell will end exploration off Alaska “for the foreseeable future,” the company said.<\/p>\n