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Shell stakes out Alaska with $2B bid


Published Feb 7, 2008
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Alaska lease map

Royal Dutch Shell is high bidder on 275 blocks in the Chukchi Sea lease sale offshore northwest Alaska, with bids totalling $2.1 billion.

The Hague-, Netherlands based supermajor declared a “commitment” to exploration in the high arctic basins of the Beaufort Sea. Shell was awarded 84 leases after the 2005 Outer Continental Shelf lease sale, so the move marks a growing presence in arctic America.

“These new positions come on top of our previously-announced plans for exploration investment in 2008,” a statement said.

Shell holds an equity position in 179 lease blocks in Alaska's Beaufort Sea. In 2006 and 2007, Shell completed seismic programs in two basins in the region, including the first 3-D seismic ever conducted in the Beaufort and Chukchi seas.

Tags: Royal Dutch Shell plc



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