Shell to cease further exploration in Alaska, Royal Dutch Shell Plc (RDSa.L) said it would cease analysis action in adopted Alaska for the "foreseeable future" and yield a writedown of about $4.1 billion afterwards declining to acquisition abundant oil in the region.
The aggregation said it did not acquisition acceptable amounts of oil and gas in the Burger J well, amid in the Chukchi Sea about 150 afar from Barrow, to accreditation added exploration.
The accommodation to stop analysis reflects the project's top costs and the capricious federal authoritative ambiance in adopted Alaska forth with the Burger J able-bodied results, the aggregation said.
Shell said its Alaskan position is admired at about $3 billion with a added $1.1 billion in approaching acknowledged commitments.
The aggregation said it did not acquisition acceptable amounts of oil and gas in the Burger J well, amid in the Chukchi Sea about 150 afar from Barrow, to accreditation added exploration.
The accommodation to stop analysis reflects the project's top costs and the capricious federal authoritative ambiance in adopted Alaska forth with the Burger J able-bodied results, the aggregation said.
Shell said its Alaskan position is admired at about $3 billion with a added $1.1 billion in approaching acknowledged commitments.
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