Shell is not the only Western company to have faced serious setbacks in the Arctic. Norway’s state-owned oil company, Statoil, faced serious challenges at its Apollo Well in the Barents Sea (including a standoff with Greenpeace), and when it was eventually able to drill the well, the company discovered that the well was dry. Statoil’s lack of success in 2014 led the company to suspend its efforts in 2015 and concentrate on mature fields to the south, in the Norwegian Sea.
Read Full Article »
