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REPORT: A Federal Review Could Halt Shell's Drilling In Alaska's Arctic Waters

Rob WileJan 9, 2013, 21:36 IST

The New York Times' John Broder and Clifford Krauss report that an urgent review of Arctic drilling by the Department of the Interior could scuttle all of Shell's production plans there.

"Officials said the new assessment by federal regulators could halt or scale back Shell’s program to open Alaska’s Arctic waters to oil exploration, a $4.5 billion effort that has been plagued by equipment failures, legal delays, mismanagement and bad weather," they write.

The review was triggered after Shell's drilling ship, the Kulluk, ran aground two weeks ago and had to be towed back to Alaska for repairs.

It's expected to be completed within 60 days.