Royal Dutch Shell is in the Arctic for the long term, insisted chief executive Peter Voser, despite casting doubt over the company’s 2013 Alaskan drilling plans and warning he could not rule out further “incidents” after a series of mishaps.
The Kulluk drilling rig which ran aground off Alaska on New Year’s Eve. Photo: AFP
By Emily Gosden 9:02PM GMT 31 Jan 2013
Mr Voser was speaking as Shell unveiled a 6pc fall in profits to $27bn (£17bn) for 2012, as fourth-quarter earnings came in below expectations because of a surprise slump in exploration and production profits.
Shell has spent about $5bn over seven years on its controversial Arctic exploration campaign but has yet to be allowed to drill into potentially oil-bearing rocks.
Setting out the company’s intentions to drill more than 40 conventional oil and gas exploration wells this year, Mr Voser said on Thursday that the Arctic was counted within those plans.