Shell Arctic oil drilling to commence within weeks
…if the initial wells do not find oil, Shell will contemplate walking away from the region entirely.
By Richard Anderson: Business reporter, BBC News: 3 July 2015
Oil and gas giant Shell is expected to begin drilling for oil in the Arctic within the next two weeks.
Thirty ships left Dutch Harbor in Alaska on Thursday for the Arctic to support two initial exploratory wells.
The company has already committed about $7bn (£4.5bn) to the controversial project, and is confident it will find huge quantities of oil in the region.
But if the initial wells do not find oil, Shell will contemplate walking away from the region entirely.
The US Department of the Interior gave the green light to Shell to commence Arctic oil exploration in May this year, and the Anglo-Dutch group clearly believes it will get the remaining necessary permits in the next week or two.
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