Shell Wins 84 Beaufort Sea Leases

The U.S. Minerals Management Service has awarded Shell Offshore Inc. 84 leases in the Beaufort Sea, offshore Alaska. Shell bid on the leases in the March 2005 Outer Continental Shelf Lease Sale 195.

"Shell is committed to growing globally through exploration for new material oil and more integrated gas and we believe North America continues to hold promising opportunities. Alaska, because of its large resource potential, is one such area," said Annell Bay, Regional Vice President for Exploration in the Americas. "We see the Beaufort Sea as a significant basin. It offers a wide diversity of geology and is largely untested."

"Based on our geological analysis and our experience with offshore developments in Arctic conditions, plus our history of safe and successful exploration in Alaska, we believe that we can build a significant position in Alaska, starting in the Beaufort. We also plan to make additional investments in Alaska," said Chandler Wilhelm, Alaska Exploration Manager. "For Shell to be successful, and to achieve our vision for Alaska, we need to work in partnership with key stakeholders for our mutual benefit. We are committed to doing our part."

Shell's renewed activity in Alaska has been applauded by many stakeholders, including Gov. Frank Murkowski. "I welcome Shell back to Alaska," said Murkowski. "Shell's interest again demonstrates Alaska's competitiveness in a global business environment. My administration is working hard to ensure that Alaska is an attractive place to do business. With numerous oil prospects and a gasline on the horizon, Alaska will continue to contribute to the nation's energy supply and energy security for decades to come."

In addition to Gov. Murkowski, Shell has begun meeting with other stakeholders regarding the Beaufort Sea leases. Shell looks forward to continuing stakeholder engagements as it considers other business opportunities in Alaska where Shell can best use its technological expertise to responsibly develop vital oil and natural gas resources.

To help support its new Alaska business, Shell has opened an office in Anchorage, located in The Frontier Building, at 3601 C Street. Tom Homza, a long-time Alaska geologist, will serve as Shell's Office Manager. In addition, Edna Beuhler, a long-time Alaska resident, will serve as the Anchorage Office Coordinator. Shell's primary US Exploration team will remain based in Houston.

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