Shell preparing 'armada' for offshore Arctic drilling

(LONDON) — Royal Dutch Shell is preparing an "armada" of 25 vessels to explore for oil this summer in the Chukchi Sea, Reuters reported. Shell Chief Financial Officer Simon Henry said Thursday that the Arctic oil reserve "remains a massive value opportunity" despite the company's setbacks there, which include the grounding of the drillship Kulluk in 2012. The U.S. Department of the Interior is considering the company's drilling plan for 2015.

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By Professional Mariner Staff