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Announcements
Posted by: anonymous on 04/20/2007 07:14 AM
Updated by: anonymous on 04/20/2007 07:14 AM
Expires: 01/01/2012 12:00 AM
Shell Highest Bidder in MMS Beaufort Sea Oil, Gas Lease Sale
by Ian Talley
Thu, Apr 19, 2007 10:50 GMT
WASHINGTON - Royal Dutch Shell PLC (RDSA) was the highest bidder and winner of the most oil and gas exploration blocks in the the U.S. Minerals Management Service Beaufort Sea lease sale, according to details posted by the MMS Wednesday.
Shell won 49 of the 92 blocks auctioned off in the Alaskan oil and gas lease, paying roughly $39.3 million of the total $42 million the MMS garnered from all of the blocks. The Beaufort Sea Sale offered 254 blocks totaling 8.7 million acres offshore Alaska's northern coast.
"We are pleased with the sale results," said MMS Regional Director John Goll. "The oil and gas resources present in the Beaufort Sea are vital to our nation's and Alaska's economy, and we hope this will boost future supplies into the Trans-Alaska pipeline."
Shell's primary focus was on blocks around Flaxman Island.
France's Total SA (TOT) won 32 blocks, paying $2.2 million. Italy's Eni SPA (E) won seven, paying $466,000. ConocoPhillips (COP) and BP PLC (BP) won a block each.
© 2007 Dow Jones Newswires.
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