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Shell stops Arctic activity after 'disappointing'-tests, off the coast of Alaska

on Mon Sep 28, 2015 9:35 am
Royal Dutch Shell has stopped Arctic oil and gas exploration off the coast of Alaska after "disappointing" results from a key well in the Chukchi Sea, according to BBC News reported.

Shell said it did not find sufficient amounts of oil and gas in the well to warrant further exploration, according to a BBC News report.

"Shell continues to see important exploration potential in the basin, and the area is likely to ultimately be of strategic importance to Alaska and the US," said Marvin Odum, president of Shell USA.

"However, this is a clearly disappointing exploration outcome for this part of the basin," he said.

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