
High commodity prices, receding ice and better technology are spurring a hunt for Arctic resources
Jun 16th 2012 | from the print edition
IN WAINWRIGHT, A tiny village on the Alaskan shore of the Chukchi Sea, scientists from Royal Dutch Shell recently drew a small crowd of Eskimos to the school gymnasium to hear about the company’s summer plans. Between July and October, Shell hopes to drill three exploratory wells in its Burger prospect, 100km offshore of Wainwright. Having found oil and gas there in the 1980s, it is confident it will do so again. Oilmen are usually cagey; the chances of finding commercial oil in a well-charted prospect are around one in 20. But Shell, which in 2005 and 2007 paid $2.2 billion for exploration licences off the shore of Alaska, believes the Burger is a whopper. “This is a big year for the Arctic,” says its regional chief, Robert Blaauw. read more
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