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Industry

Stories from the KUCB Newsroom on the topic of business and industry. Also includes volunteer Frank Kelty's weekly fisheries update, the Unalaska Fisheries Report.

Shell Oil Pulls Out Of Arctic Ocean Drilling

Sep 28, 2015
Lauren Rosenthal / KUCB

  After sinking eight years and more than $8 billion into the effort, Shell Oil is pulling out of the Arctic Ocean, the company announced in a press release Sunday night.

Shell officials said the company safely drilled a well 6,800 feet beneath the floor of the Chukchi Sea this summer. They found indications of oil and gas there, but not enough to warrant further exploration.

“We thought it was the potential to be a multibillion-barrel prospect,” Shell Alaska spokesperson Meg Baldino said. “That is not the case. It is not commercial.”

John Ryan / KUCB

If you’ve wondered why a 200-foot orange barge has been parked in front of Unalaska’s downtown for the past week, here’s why: It’s the Resolve Ibis, and it’s the centerpiece of an effort to improve the safety of big ships passing throughout the Aleutian Islands. It could be parked there for the next five years.

The orange, boldly lettered barge is the most visible element of a private effort to improve shipping safety along the Great Circle route across the Pacific.

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