• 13 hours Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 13 hours Oil Gains Spur Growth In Canada’s Oil Cities
  • 14 hours China To Take 5% Of Rosneft’s Output In New Deal
  • 15 hours UAE Oil Giant Seeks Partnership For Possible IPO
  • 15 hours Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 16 hours VW Fails To Secure Critical Commodity For EVs
  • 17 hours Enbridge Pipeline Expansion Finally Approved
  • 18 hours Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 19 hours OPEC Oil Deal Compliance Falls To 86%
  • 1 day U.S. Oil Production To Increase in November As Rig Count Falls
  • 2 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 2 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 2 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 2 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 2 days Aramco Says No Plans To Shelve IPO
  • 4 days Trump Passes Iran Nuclear Deal Back to Congress
  • 4 days Texas Shutters More Coal-Fired Plants
  • 5 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 5 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 5 days Chevron Quits Australian Deepwater Oil Exploration
  • 5 days Europe Braces For End Of Iran Nuclear Deal
  • 5 days Renewable Energy Startup Powering Native American Protest Camp
  • 5 days Husky Energy Set To Restart Pipeline
  • 5 days Russia, Morocco Sign String Of Energy And Military Deals
  • 6 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 6 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 6 days India Needs Help To Boost Oil Production
  • 6 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 6 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 6 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 6 days District Judge Rules Dakota Access Can Continue Operating
  • 7 days Surprise Oil Inventory Build Shocks Markets
  • 7 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 7 days Syria’s Kurds Aim To Control Oil-Rich Areas
  • 7 days Chinese Teapots Create $5B JV To Compete With State Firms
  • 7 days Oil M&A Deals Set To Rise
  • 7 days South Sudan Tightens Oil Industry Security
  • 7 days Over 1 Million Bpd Remain Offline In Gulf Of Mexico
  • 7 days Turkmenistan To Spend $93-Billion On Oil And Gas Sector
  • 8 days Indian Hydrocarbon Projects Get $300 Billion Boost Over 10 Years
Clashes In Kurdistan Send Oil Prices Higher

Clashes In Kurdistan Send Oil Prices Higher

Reports of skirmishes between Iraqi…

Is Iraq On The Brink Of Civil War?

Is Iraq On The Brink Of Civil War?

Kurdistan has dominated Middle Eastern…

Shell Tows its Arctic Drill Rigs to Asia for Major Repairs

You must admit one thing about Royal Dutch Shell (NYSE: RDS.A); they are persistent in the face of adversity.

Their Arctic exploration plans have faced calamity after calamity, racking up huge expense bills, yet still they persevere.

The latest announcement made on Monday is that it will tow its purpose built rigs from Alaska to Asia where they will undergo major repairs; that after just one, short season in operation.

The Kulluk drill rig ran aground in late December and before it was recovered it suffered flooding and damage to its generators; and earlier in 2012 the Noble Discoverer dragged its anchor and experienced an engine room fire.

Related article: Despite Deepwater, Deep Pentagon Pockets for BP

Since being awarded the leases to drill in the Beaufort and Chukchi Seas from the federal government six years ago Shell has spent $5 billion on research, permits, equipment, and staff to try and realise its plans to drill for oil in the Arctic. After all that it managed to begin two wells last year, far short of the six it had intended.

Curtis Smith, a spokesman for Shell, stated that, “the pace of our Alaska operations will always be dictated by safety. The lessons learned from 2012 will be applied to all future exploration programs. Having said that, the drilling program we executed in 2012 was safe and successful. We look forward to building on that progress in the future.”

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News