(Adds details, background, CFO quote)
By Karolin Schaps and Ron Bousso
LONDON, Jan 29 (Reuters) - Oil major Shell wants torevive its Arctic oil drilling programme this year after a neartwo-year suspension, angering environmentalists who say the riskof an oil spill is too high.
Remote and costly to develop, the Arctic is estimated tocontain 20 percent of the world's undiscovered hydrocarbonresources and despite fierce opposition, plans for drillingnorth of the Arctic Circle are under way in the United States,Russia and Norway.
Shell, Europe's largest energy firm, is intent on restartingits Arctic drilling campaign in Alaska's Chukchi Sea thissummer. It was suspended in early 2013 following the groundingof a drilling rig.
"Will we go ahead? Yes if we can. I'd be so disappointed ifwe wouldn't," Shell Chief Executive Ben van Beurden toldjournalists at the company's fourth quarter results conferencein London.
The resumption depends on having the logistics in place,receiving necessary permits and fending off a number of legalchallenges, he said.
Opposition to the Arctic drilling has been fierce.
"Shell is taking a massive risk doggedly chasing oil in theArctic, not just with shareholder value, but with the pristineArctic environment," said Greenpeace environmental campaignerCharlie Kronick in a statement.
"No company is able to operate safely in this remote,fragile ocean where the nearest rescue fleets are hundreds ofmiles away."
The Anglo-Dutch company has already spent $1 billion onpreparing its Arctic drilling work and it is costing Shellseveral hundred millions of dollars a year even withoutprogressing with drilling, Chief Financial Officer Simon Henrysaid.
Shell said time was pressing for oil production to start inAlaska as capacity use of a pipeline connecting the remoteregion to the main North American oil system was falling closeto levels at which it cannot operate.
"That means not only new projects wouldn't go ahead but theexisting (ones) won't be able to operate either," Henry said. (Editing by Jason Neely and John Stonestreet)
