Royal Dutch Shell plc is pleased to be the apparent high bidder on 275 lease blocks in the February 6th, 2008 US Outer Continental Shelf Lease Sale 193 in the Chukchi Sea, offshore northwest Alaska. Shell's high bids totalled $2.1 billion USD.
David Lawrence, Shell Executive Vice President Exploration, said "I am pleased with our results at Sale 193." Lawrence continued, "We are committed to exploration for new oil and gas in high potential basins. Our entry into the Chukchi Sea, combined with our lease holdings in the Beaufort Sea, further solidifies our position in Alaska, which has the potential to become a new heartland for Shell. These new positions come on top of our previously-announced plans for exploration investment in 2008."
He concluded, "We believe that success in the Alaska offshore also carries with it great potential for the state, including new job opportunities and new oil for the Trans-Alaska Pipeline. We will continue to apply our experience and technology to safe and responsible exploration in the Alaska offshore. The results of this sale underscore Shell's commitment to benefit local communities, while respecting their way of life. We can find common solutions to develop this important domestic resource."