Shell Extends in Alaska only to Sell It Off

Oil company Shell is seeking an extension of leases it holds in Alaska as a way to make the leases more attractive to a potential buyer and does not itself plan a return to operations in the state, spokesperson Curtis Smith said Friday, according to APM.

Smith said the leases for which the company is seeking an extension represent the bulk of leases Shell still holds in Alaska.

Shell, in a statement Friday, said it “has no intention to operate these leases, which were originally purchased in 2012 and are due to expire in 2022.”

If the state approves Shell’s application, Shell “will transition to an alternative operator and fully divest out of the venture,” the company said.