Shell's (RDS.A) plans to send its two offshore drilling rigs to Asia for extensive repairs...

|By:, SA News Editor

Shell's (RDS.A) plans to send its two offshore drilling rigs to Asia for extensive repairs likely mean the cancellation of its second summer of drilling in the U.S. Arctic. Barclays says, aside from the Kulluk, only two other rigs are able to operate in sea-ice conditions, and neither seems available. Even if fit replacements are found, they would have to be modified and receive U.S. approval to operate - all in less than five months.