LONDON, Dec 2 (Reuters) - Royal Dutch Shell and
Siccar Point have decided not to go ahead with the development
of the Cambo oilfield in the British North Sea due to a weak
economic case, Shell said on Thursday.
"After comprehensive screening of the proposed Cambo
development, we have concluded the economic case for investment
in this project is not strong enough at this time, as well as
having the potential for delays," Shell said in a statement.
The Cambo project off the Shetland Isles has been at the
centre of a political debate on whether Britain should develop
new fossil fuel resources as it seeks to sharply reduce its
greenhouse gas emissions in the coming decades.
Siccar Point, which operates the project, did not
immediately reply to a request for comment.
(Reporting by Ron Bousso and Shadia Nasralla
Editing by Mark Potter)