Image courtesy of Repsol/Flickr.

Spain’s Repsol has given up its Chukchi Sea leases, becoming the last major firm to leave the offshore Alaska play.

According to Climate Progress, Repsol has relinquished 55 of its Chukchi Sea drilling leases and will relinquish its remaining 38 licenses in 2017.

Several major oil firms have been pulling out of the Arctic play since Shell’s disappointing 2015 campaign.

Shell said last September that it would cease further exploration activity in offshore Alaska for the “foreseeable future.”

In May, Shell officially relinquished the majority of its leases in Chukchi Sea.

The company said it will be separately evaluating its leases in Alaska’s Beaufort Sea.

Documents obtained by environmental organization Oceana earlier this year showed that Shell has relinquished more than 150 of Chukchi Sea leases.

Those documents also showed that ConocoPhillips, Eni and Iona Energy have relinquished all of their leases in the Chukchi Sea.

In November, Statoil said it will exit 16 operated leases and its stake in 50 leases operated by ConocoPhillips, all located in the Chukchi Sea.

Statoil added that it will also close its offices in Anchorage, Alaska.



Leave a Reply