Shell asks for another 5 years for drilling in the Arctic

Royal Dutch Shell asks the Administration of Obama to grant the company another 5 years for drilling in the area of Alaska. The company states that the delays and extensions connected with the settlement of legal issues might postpone the start of drilling works until 2017 at some sites.

Shell has spent 8 years and $6 bln for oil search in the Arctic – in the Baufort and Chukotka Seas, the company reported in its letter to the Ministry of Domestic Affairs saying that a “reasonable” development until the expiration of the lease period of some sites is under question now.

Force – majeure

“Despite of all the efforts of Shell, force-majeure has prevented and keeps preventing Shell from preparing a new well for operation in this area”, P. Slaybi, Vice-President of Shell Alaska, wrote in the Bureau for Safety and Ecological Control issues.