May 27, 2018

Shell to start oil exploration in the Arctic

Shell to start oil exploration in the Arctic

The US has granted oil giant Royal Dutch Shell approval to explore for oil in the Arctic.

The conditional approval by the Department of the Interior depends on Shell getting a nod from other US regulators, the Bureau of Ocean Energy Management said.

Drilling for oil in Alaska
Drilling for oil in Alaska

Shell stopped Arctic exploration more than two years ago after problems including an oil rig fire and safety failures.

Environmental campaigners oppose the move.

Shell has spent about $6bn (£3.85bn) on exploration in the Arctic – a region estimated to have about 20% of the world’s undiscovered oil and gas.

The Anglo-Dutch company wants to drill up to six wells in water about 40 metres deep. Read more

 

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