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Ukraine Crisis Forces Shell to Halt Shale Wells in Restive East

Screen Shot 2014-02-10 at 16.29.29Extract from a Bloomberg/Businessweek article by Ladka Bauerova and Will Kennedy published 3 June 2014

Royal Dutch Shell Plc (RDSA) has halted drilling for shale gas in eastern Ukraine to protect its personnel from clashes between pro-Russian separatists and the Ukrainian army. Shell is taking a “time-out” on exploration work after drilling two wells since the Hague-based explorer signed a production-sharing agreement last year, Chief Financial Officer Simon Henry said in an interview with Bloomberg TV in London.  “We obviously need to assess the future security situation as it develops because the safety of our own people is our first priority,” Henry said. “There’s no pulling out, but we take a time out on the actual drilling activity on the ground.”

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