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Shell expects to submit updated EP for Chukchi Sea
In Shell’s Q3 Quarterly Earnings Announcement, we discussed plans to continue our exploration program in the Chukchi Sea, offshore Alaska.
We are putting the building blocks in place for an upcoming exploration season, but we have not yet made a final decision. We expect to submit an updated Exploration Plan in the coming weeks, which is required for us to keep options open to proceed in the coming year. If we drill in 2014, it will be in the Chukchi Sea only. This is a multi-year exploration program, and each step we take will be contingent on meeting all the conditions necessary to proceed safely and responsibly.
Our decision to resume exploration will be driven by our readiness to do so safely, not by the need to meet arbitrary timelines. Alaska oil and gas represents a potentially enormous and vital U.S. resource that could underpin the American economy for decades to come.