Shell Granted Concession to Explore Oil North of Alaska
Posted on: Wednesday, 3 August 2005, 09:01 CDT
Shell granted concession to explore oil north of Alaska
BRUSSELS, Aug. 2 (Xinhua) -- The Dutch energy company Shell is going to explore for oil and gas in the arctic waters north of Alaska after having paid a one-time fee of 44 million dollars for the concession, Dutch newspaper De Volkskrant reported Tuesday.
There has been little seismic research as yet into the presence of oil fields in the sea north of Alaska. So Shell still has little idea how much, if any, oil and gas will be found.
According to the paper, the company will start a seismic study of the area in 2006 to chart the substratum.
The area where Shell will be allowed to explore lies just north of a protected nature reserve that has been nominated as a world heritage site and is currently closed to oil extraction.
The US government however has never submitted an official request to have the area designated a world heritage site and is in fact pressuring regularly to open the area up for oil extraction.
Shell was quoted by the newspaper as saying that it is not planning to extract oil in the closed nature reserve. Shell has years of experience in drilling oil and gas in freezing conditions. The company has operations in Canada, Russia and Norway.
Shell has been active in Alaska for 50 years. The company stopped oil and gas production in the United States in 1998 to concentrate on the Gulf of Mexico.
Source: Xinhua News Agency - CEIS
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