Shell waves $105m for Chukchi block

US Fish & Wildlife

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Jonathan Davis

 07 February 2008 01:53 GMT

Anglo-Dutch supermajor Shell bid $105.3 million for a single exploration block in today's sale of federal drilling rights in the Chukchi Sea off Alaska's north-western coast.

The bid was the highest dollar amount offered for a single tract in a record-breaking offshore lease sale, the US government’s Minerals Management Service (MMS) said.

The offer was also 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, MMS spokeswoman Robin Cacy said.

Shell, the most active bidder in the record-breaking sale, offered $2.1 billion in total high bids for 275 tracts, according to preliminary results released by the…

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