• 5 minutes Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 10 minutes Iranian Sanctions - What Are The Facts?
  • 15 minutes U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 4 hours WTI @ $75.75, headed for $64 - 67
  • 19 mins Censorship has a price: Google’s CEO Defends Potential Return to China
  • 2 hours Gold price on a rise...
  • 2 hours Saudis Threaten Retaliation If Sanctions are Imposed
  • 9 hours Porsche Says That it ‘Enters the Electric Era With The New Taycan’
  • 1 hour Two Koreas: U.N. Command Wrap Up First Talks On Disarming Border
  • 9 hours Can the World Survive without Saudi Oil?
  • 10 mins $70 More Likely Than $100 - YeeeeeeHaaaaa
  • 22 hours Sears files Chapter 11
  • 22 hours Natural disasters and US deficit
  • 19 hours U.S. - Saudi Arabia: President Trump Says Saudi Arabia's King Wouldn't Survive "Two Weeks" Without U.S. Backing
  • 10 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 3 hours Who's Ready For The Next Contest?

Breaking News:

200 Dead In Nigeria Oil Pipeline Blast

Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Trending Discussions

Shell Sets Its Sights On “Unexplored” Oil Basin In Nova Scotia

Shell Sets Its Sights On “Unexplored” Oil Basin In Nova Scotia

Pivoting away from its failed Arctic drilling campaign, Royal Dutch Shell just received the go-ahead to drill in another offshore frontier.

Regulators from the Canadian province of Nova Scotia approved of Shell’s drilling plan to drill in the Atlantic Ocean off the Canadian coast. The blocks that Shell is looking to drill could hold up to 120 trillion cubic feet of natural gas and 8 billion barrels of oil.

The drilling program could take 10 months, and wells will be drilled in 2,000 meters of water depth. The so-called Shelburne Basin off the coast of Nova Scotia is an “unexplored geological region” according to the Anglo-Dutch oil major. Related: Future Of Iraq’s Oil Industry Under Threat

NovaScotia

For Nova Scotia, which is eager to see a boost to its economy, Shell’s exploration program holds out hope. But it has not been met with unanimous support in the province. Related: Present Pain Leading To Future Risks In Oil Markets

One controversial aspect of the plan is the lack of oil spill response equipment on site. Shell’s plans consist of bringing in a capping stack from Norway in the event of a well blowout, with a backup located in Brazil. The company requested 21 days to contain a hypothetical well blowout, but Nova Scotia regulators trimmed that down to 13 days after public criticism. That compares to the 24-hour window that Shell had in the U.S. Arctic, which required a capping stack on site.

Environmental groups criticize the 13 days that Shell has, arguing that not having the equipment on site means that there is no guarantee that Shell will be able to contain a spill within the agreed timeframe. But with a limited number of capping stacks available around the world, a top official at the Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) said having one on hand is not feasible. Related: Statoil’s North Sea Success Provides Hope For World’s Depleted Fields

But that has not swayed the fishing industry in Canada. “The capping stack is still in Norway. The mandate of the CNSOPB is to protect the environment on the Scotian Shelf while exploration drilling takes place. They are simply not doing their job,” said John Davis of the Clean Ocean Action Committee, which represents fisheries.

Shell plans on drilling two exploratory wells, named the Cheshire and Monterey Jack. The company received approval for the Cheshire this week.

By Charles Kennedy of Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




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