Shell Officially Quits This Year's Plans to Drill in the Arctic

Environmentalists rejoice at the news, hope the company will be equally “lucky” in 2013

By Laura Sinpetru on September 18th, 2012 08:58 GMT

Due to the setting in of the Arctic winter, and the harsh environmental conditions brought about by this new season, oil and gas company Shell had no choice but to declare defeat and quit this year's plans to drill in the Arctic.

Several environmentalists now emphasize that Shell's being unable to carry on with its Arctic agenda as planned stands as proof that drilling in these frozen waters is not as easy as some would believe, and that other oil giants would do best to focus their attention on other development possibilities rather than risk their following in the footsteps of this company.

More precisely, given the fact that Shell has already spent about five billion dollars on its Arctic campaign, yet failed in getting its money's worth, greenheads now hope that financial reasoning alone will keep this part of the world free of similar future threats.

Environmental organization Greenpeace, which up until now has lead what some would call a fierce campaign against said oil giant, informs us that the final blow to Shell 2012 Arctic drilling agenda came when the company damaged its containment dome whilst carrying out several tests.

Seeing how this giant metal box is intended to help manage whatever accidental oil spill might occur in the aftermath of a well blowout, it comes as no surprise that company workers cannot possibly start looking for oil until the containment dome is not once again ready for use.

On the downside, it seems that Shell is to continue exploring the Arctic until the 31st of October, when they are required by law to leave this region.

Apparently, they hope that whatever time they still have at their disposal will allow them to make sure everything is ready for their 2013 campaign.

“In order to lay a strong foundation for operations in 2013, we will forgo drilling into hydrocarbon zones this year. Instead, we will begin as many wells, known as `top holes,' as time remaining in this season allows,” company representatives told members of the press.
Shell abandons this year's plans to drill in the Arctic
   Shell abandons this year's plans to drill in the Arctic
MORE ON THIS TOPIC
LATEST NEWS
HOT RIGHT NOW

1 Comment