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REUTERS: Shell bids over $100 mln for one Arctic oil block

Wed Feb 6, 2008 4:42pm

ANCHORAGE, Feb 6 (Reuters) – Oil major Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research) bid $105.3 million for a single exploration block in the U.S. government’s sale of drilling rights in federal waters of the Chukchi Sea off Alaska’s northwestern coast, the Minerals Management Service said.

The bid is one of the largest ever for drilling rights in federal waters off Alaska since the late 1970s when some federal acreage in the adjacent Beaufort Sea attracted bids of more than $100 million, an MMS spokeswoman said.

(Reporting by Yereth Rosen)

http://www.reuters.com/article/rbssEnergyNews/idUSN0631498220080206

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