Royal Dutch Shell announced Monday it was suspending parts of its arctic
drilling campaign off the coast of Alaska. A forecast, however,
suggests oil production from parts of the Alaskan arctic could grind to a
halt in less than 15 years. Production from the North Slope, situated
along the Beaufort Sea, peaked at 2 million barrels per day in 1988. By
2010, production had declined by 70 percent. Shell said it would next
focus its campaign further north, but given apparent complexities there,
it may be premature to expect any significant gains from the region in
the near future.
Shell announced Monday that the containment dome for its oil-spill response system for arctic waters was damaged, forcing it to suspend some operations in Alaska. The supermajor said it was disappointed that the system hadn't met its standards for the arctic, but at the same time felt compelled to honour its commitment not to operate in the northern waters unless safety was ensured. Shell was already forced to scale back its ambitions in the Chukchi Sea last week because of the threat of encroaching ice. Damage to its containment dome prompted another look altogether.
"The time required to repair the dome, along with steps we have taken to protect local whaling operations and to ensure the safety of operations from ice floe movement, have led us to revise our plans for the 2012 - 2013 exploration program," the company said in a statement. "In order to lay a strong foundation for operations in 2013, we will forgo drilling into hydrocarbon zones this year."
Read more: http://oilprice.com/Energy/Energy-General/Shells-Arctic-Drilling-Campaign-Starts-to-Falter.html
Shell announced Monday that the containment dome for its oil-spill response system for arctic waters was damaged, forcing it to suspend some operations in Alaska. The supermajor said it was disappointed that the system hadn't met its standards for the arctic, but at the same time felt compelled to honour its commitment not to operate in the northern waters unless safety was ensured. Shell was already forced to scale back its ambitions in the Chukchi Sea last week because of the threat of encroaching ice. Damage to its containment dome prompted another look altogether.
"The time required to repair the dome, along with steps we have taken to protect local whaling operations and to ensure the safety of operations from ice floe movement, have led us to revise our plans for the 2012 - 2013 exploration program," the company said in a statement. "In order to lay a strong foundation for operations in 2013, we will forgo drilling into hydrocarbon zones this year."
Read more: http://oilprice.com/Energy/Energy-General/Shells-Arctic-Drilling-Campaign-Starts-to-Falter.html
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