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As Shell Struggles with Logistics in the Arctic, the Company Asks for Extension [View all]
http://www.nationofchange.org/shell-struggles-logistics-arctic-company-asks-drilling-extension-1346253578Royal Dutch Shell is seeking permission to extend its Arctic drilling season as it struggles with the logistics of exploring untapped oil reserves beneath icy waters off Alaska. [Reuters]
Sea-ice cover in the Arctic Ocean reached a record low this week, dropping below the previous record set in 2007, the National Snow and Ice Data Center reported on Monday. It is expected to continue diminishing for at least the next week.
Long-term disappearance of sea ice in the Arctic Ocean has inspired development boosters to look to the area for new oil finds. So far, Shell has been the company with the most ambitious Arctic oil-exploration plans.
The usually ice-clogged Chukchi Sea is considered a promising but daunting frontier for oil drilling. The U.S. Department of Interior estimates the Chukchi holds over 15 million barrels of recoverable oil.
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