In the past decade, the operational setting on the North Slope of Alaska has experienced a gradual transition from total major company dominance to include a much broader spectrum of industry players. As recently as the 90’s the North Slope was considered a majors only club, and the activity base had a limited number of participants. ARCO and BP historically had been the only entities with ongoing operations, and other majors would make periodic appearances for isolated projects. Click here to read more.
All of the Agencies are extremely helpful and supportive of efforts to conduct operations on the central region of the North Slope of Alaska, particularly on State lands in the more mature activity areas of the Slope between the Colville River on the west and the Canning River on the east. With oil and gas production providing over 80% of State revenues, the State agencies over the past several years have initiated work process reviews to reduce bureaucracy and unnecessary paperwork to facilitate timely permits while, at the same time, rightfully demanding compliance with health, safety and environmental regulations. Most new entrants to Alaska, including AVCG/Brooks Range Petroleum, have focused on this central area of the Slope with the majors now focusing exploration in the high-cost, bigger stakes areas of offshore northern Alaska or in NPRA. Click here to read more.
About Alaskanomics: Northrim Bank launched the Alaskanomics blog to provide news, analysis and commentary on Alaska’s economy. With contributions from economists, business leaders, policy makers and everyday Alaskans, Alaskanomics aims to engage readers in an ongoing conversation about our economy, now and in the future. Click here to view the website.