Shell Leaves Door Open for Arctic Exploration

Shell wants to maintain company’s 2014 explorations in the Chukchi Sea viable, as a rising interest on Arctic fields is emerging in the last months. 

‘Shell submitted revisions to its previously approved Plan of Exploration Wednesday, Nov. 6 to the Department of Interior; this process is required to keep the company’s 2014 exploration options viable. The plan details Shell’s exploration program for multiple wells in the Chukchi Sea,’ reads a note released on Wednesday. 

Shell's Arctic campaign stumbled in 2012, as accidents and a rising tide of regulatory scrutiny made its assets less appealing. Environmental protests contributed to Shell’s divestments.

The Arctic explorations emerged recently as Russian companies are investing in projects in several areas. Turmoil in Northern Africa affected traditional fields and contributed to a rising attention for operations in the Arctic.

Last August,  Shell purchased the seismic data package about the Barents Sea. 

‘We will continue to take a methodical approach to this exploration phase and will only proceed if the program meets the conditions necessary to proceed safely and responsibly,’ said the company.