Imperial Oil Exploration Plans in Arctic Unchanged
Imperial Oil Ltd's plans to drill for oil in the Beaufort Sea in Canada's Arctic have not changed despite the recent slide in oil prices, spokesman Pius Rolheiser said on Wednesday.
Imperial and its partners Exxon Mobil Corp and BP Plc have not yet made an investment decision and are in the process of applying for regulatory approval from Canada's National Energy Board.
Pending approval, the earliest the companies would be able to start drilling would be the summer of 2020.
"Imperial and (its) partners have not changed any of our plans. We are in the early stage of assessing potential for further exploration work and we have not made any business investment decision at this time," Rolheiser said.
(Reporting by Nia Williams)
