Alaska Chukchi Sea News

The aging Pacific Northwest fishing fleet is either undergoing or about to undergo a long-overdo upgrade, judging by a major economic report commissioned by the Port of Seattle. Fisheries managers, seafood suppliers, yards and the supply chain all hope an accompanying surge in ship finance “lifts all boats”. For now, the newbuild count is growing apace, slowed just a bit by owners opting for major retrofits amid rich fish harvests. This fisheries upsurge comes with some rising stars of ship design-and-build for vessels set to ply the Bering and Beaufort seas.

Norwegian oil major Statoil said on Tuesday it will pull out of Alaska's Chukchi Sea, just weeks after Royal Dutch Shell abandoned the treacherous waters there after spending billions on oil exploration work. The latest pullback comes as oil companies slash spending on expensive offshore projects during the worst price crash in six years. Businesses, politicians and environmental groups have squared off over drilling in the Arctic, which is widely believed to have large undiscovered oil resources. Statoil said it will exit 16 leases it operates and its stake in 50 leases operated by ConocoPhillips. "Since 2008, we have worked to progress our options in Alaska.

Former BP PLC Chief Executive John Browne said fellow FTSE 100 giant Royal Dutch Shell PLC is risking its long term reputation and finances by deciding to drill n the Arctic, the BBC reported. Both Browne and Shell Chief Executive Ben van Beurden gave interviews to BBC for a Radio 4 documentary concerning climate change, where Browne said Shell should not be prioritising the Arctic as an area for exploration for a variety of reasons, especially in the current downturn. "I'm not chairman of Shell. But I think [Arctic drilling] is very expensive and I would always go for hydrocarbons which have less cost and effort involved. Some companies will genuinely believe - they may be right - that they can produce oil safely and environmentally securely in extraordinary conditions" said Browne.

Oil major Shell wants to revive its Arctic oil drilling programme this year after a near two-year suspension, angering environmentalists who say the risk of an oil spill is too high. Remote and costly to develop, the Arctic is estimated to contain 20 percent of the world's undiscovered hydrocarbon resources and despite fierce opposition, plans for drilling north of the Arctic Circle are under way in the United States, Russia and Norway. Shell, Europe's largest energy firm, is intent on restarting its Arctic drilling campaign in Alaska's Chukchi Sea this summer. It was suspended in early 2013 following the grounding of a drilling rig. "Will we go ahead? Yes if we can.

Regulatory uncertainty leads ConocoPhillips to call a halt to its 2014 Chukchi Sea exploration drilling plans. ConocoPhillips say it will put its 2014 Alaska Chukchi Sea exploration drilling plans on hold given the uncertainties of evolving federal regulatory requirements and operational permitting standards. The company has determined it would not be prudent at this time to make the significant monetary commitments needed to preserve the option to drill in 2014. “While we are confident in our own expertise and ability to safely conduct offshore Arctic operations, we believe that more time is needed to ensure that all regulatory stakeholders are aligned,” said Trond-Erik Johansen, President, ConocoPhillips Alaska.

The U.S. Arctic is no longer the place it once was. The environment north of the Yukon River and beyond the vast Brooks Range is warming rapidly. National Oceanic and Atmospheric Administration (NOAA) scientists predict that by 2020-2030, the Arctic could be nearly free of sea ice during the summer. Open seas will expand opportunities for maritime transportation, tourism, and oil and gas exploration in the region. But as a warming Arctic opens up vast opportunities for commerce and development…

The M/V Aiviq icebreaker, contracted by Shell Oil to support drilling in Alaska’s Chukchi Sea, was ordered in July 2009 and completed by Edison Chouest Offshore in early 2012. The $200m Aiviq is the largest vessel ever built by Chouest, and will be among the most advanced and powerful, non-military icebreakers on the waters. In order for a ship to be “ice class,” the hull must be thick, and extra girders, beams and bulkheads are needed for structural integrity. The Aiviq is designed to American Bureau of Shipping A3 capabilities to operate in frigid…

The M/V Aiviq icebreaker, contracted by Shell Oil to support drilling in Alaska’s Chukchi Sea, is scheduled to be completed by Louisiana-based Edison Chouest Offshore in early 2012. The vessel, ordered in July 2009, is on track for April 1, 2012, delivery in Galliano, La., and will then head north, according to Shell Oil spokesman Curtis Smith. The $200m Aiviq is the largest vessel ever built by Chouest, and will be among the most advanced and powerful, non-military icebreakers on the waters.

According to an August 6 report from The Wall Street Journal, Alaska Gov. Sean Parnell said that Royal Dutch Shell Plc (RDSB, RDSB.LN) and other companies can proceed with seismic testing for oil and gas in Alaska's Chukchi Sea after a federal judge agreed that such activities aren't restricted by an injunction on offshore drilling. (Source: The Wall Street Journal)