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Shell to drill in Arctic in 2 weeks

06 Jul 2015

Oil and gas giant Shell is anticipated to start drilling for oil in the Arctic this month.

Shell has committed $7bn to the project and thirty ships have been sent to the region to support two initial exploratory wells.

The initial two wells will be in relatively shallow water, with a depth of 40-50m and will be drilled using conventional techniques.

Experts believe that more than 20% of the world’s undiscovered oil and gas resources can be found in the Arctic.

The growing demand for energy has made drilling for reserves in the Arctic a potentially viable option despite the environmental risks.