Shell to spend €1.5bn on North Sea exploration

Oil giant Shell today pledged to invest an extra $150m (€124m) in the division at the centre of its reserves crisis earlier this year.

Shell to spend €1.5bn on North Sea exploration
Wed, 25 Aug, 2004 - 19:11

Oil giant Shell today pledged to invest an extra $150m (€124m) in the division at the centre of its reserves crisis earlier this year.

Shell said it now planned to spend $1.8bn (€1.5bn) on exploration and production in the North Sea, including building a pipeline to transfer gas from Norway to the UK.

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