Shell to cease further exploration in Alaska

September 28, 2015 6:23 AM

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Shell to cease further exploration in Alaska

Royal Dutch Shell Plc (RDSa.L) said it would cease exploration activity in offshore Alaska for the "foreseeable future" and take a writedown of about $4.1 billion after failing to find enough oil in the region.

The company said it did not find sufficient amounts of oil and gas in the Burger J well, located in the Chukchi Sea about 150 miles from Barrow, to warrant further exploration.

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