[Location - Date:seatlle, may 25][Source:AP][VO:][VOICE-OVER]Shell is nearly finished with a ship it says may significantly impact the country's oil future.You're looking at the Kulluk (kuh-luhk) a giant drill ship designed to work in frigid waters.SOT Pete Slaiby Vice President, Shell AlaskaThis has big potentialThe U.S. Geological Survey estimates Arctic waters hold 26 billion barrels of recoverable oil and 130 trillion cubic feet of natural gas. The key, though, isn't just getting the oil, but doing it in an environmentally safe way, and Shell says this ship can do that.SOT Shawn Gelsinger, Senior Drilling EngineerIt is essentially a large shut off valve right on the well head. Allows us to control the pressure coming up from the well bore. If we ever had an incident on surface, if we had failure on surface we can shut the well bore in sub-sea. Environmental groups, though aren't as sure.They say Shell and other oil companies have not proven they can clean up crude oil spilled in ice-choked ocean waters.However, if the oil giant gets its final federal permits and overcomes court challenges the Kulluk will be in Alaska waters this year.SOTWe're currently plan to depart middle June and head north to the artic. We do have a transit time to get to the artic. We plan to be drilling in the artic this year, as soon as July 1st.Time is of the essence as federal regulators say the ship must be out of Artic waters by September 24th, before ice is likely to move in and close everything off._______ The Associated Press