Following Shell, Another Oil Company Pulls Out of Arctic


A Chinook helicopter carries supplies to the stranded Kulluk oil drilling platform in January. (photo: SSgt. Aaron M. Johnson/US Air Force)
A Chinook helicopter carries supplies to the stranded Kulluk oil drilling platform in January. (photo: SSgt. Aaron M. Johnson/US Air Force)

 

Katie Herzog | Grist | Reader Supported News | November 20, 2015

ollowing in the wake of Shell’s decision to abandon its operations in the Arctic, another drilling company has announced that it will be pulling out of the region. In a statement, Norwegian oil company Statoil said:

The leases in the Chukchi Sea are no longer considered competitive within Statoil’s global portfolio, so the decision has been made to exit the leases and close the office in Anchorage, Alaska.

“Since 2008 we have worked to progress our options in Alaska. Solid work has been carried out, but given the current outlook we could not support continued efforts to mature these opportunities,” says Tim Dodson, executive vice president for exploration in Statoil.

The decision means Statoil will exit 16 Statoil-operated leases, and its stake in 50 leases operated by ConocoPhillips, all in the Chukchi Sea. The leases were awarded in the 2008 lease sale in Alaska and expire in 2020.

While environmentalists applaud the decision, not everyone has their party hat on. Alaska Sen. Lisa Murkowski (R) is pissed, and she’s directing her rage at one Barack H. Obama.

Read more

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s