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Shell gets environmental ok for Canada offshore drilling project

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Screen Shot 2015-06-11 at 19.31.15Shell gets environmental ok for Canada offshore drilling project

Markets | Mon Jun 15, 2015 

Canada’s environment ministry on Monday said it had approved an East Coast offshore drilling project led by Royal Dutch Shell Plc, saying the exploration project was “not likely to cause significant adverse environmental effects.”

The approval is contingent on the company meeting numerous conditions, including mitigating the potential impact on fish and marine habitats, among other things, the government said in a statement.

The Shelburne Basin Venture Exploration Drilling project, which is operated by Shell, consists of up to seven exploration wells located some 250 kilometers (155 miles) off the coast of the province of Nova Scotia, on Canada’s East Coast.

The wells are covered by six exploration licenses, which run from 2015 to 2019.

Shell holds a 50 percent stake in the project, while joint venture partner ConocoPhillips has a 30 percent share and Suncor Energy has a 20 percent stake.

(Reporting by Julie Gordon; Editing by Andrew Hay)

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