Shell embarks on controversial Arctic exploration programme as part of £4.5bn quest for oil
By LAURA CHESTERS FOR THE DAILY MAIL: 3 July 2015
Shell has kicked off its controversial Arctic exploration programme as part of a £4.5billion search for oil under the region’s freezing, pristine seas.
After being forced to embarrassingly abandon its plans in 2012 and pulling out after finding gas in the 1990s, Shell’s convoy of 30 boats and associated craft set sail from Alaska’s Dutch Harbor. The plan is to drill two wells this summer – as soon as the ice clears.
But if its initial wells do not strike oil, Shell could pull out of the programme and walk away. By the end of the summer it will have spent £4.5billion on the programme and will have to spend another £700million in next year’s search.
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