New Drill Site at Kuparuk

Friday, October 24 2014 @ 09:49 PM AKDT

Contributed by: Editor

October 24, 2014, Anchorage, Alaska – Governor Sean Parnell today welcomed the announcement from ConocoPhillips that the company will construct a new drill site at Kuparuk that is expected to produce 8,000 barrels of oil a day at peak production. The company credits SB 21, the More Alaska Production Act, legislation sponsored by Governor Parnell, for moving the project forward.

“This is the first new drill site at Kuparuk in nearly 12 years, bringing a $500 million investment in the near term, hundreds of new jobs, and greater economic opportunity for Alaskans,” said Gov. Parnell. “This announcement, when coupled with two other newly planned ConocoPhillips North Slope projects, will provide a $2 billion investment for our state. Our oil tax reform changes are working and this is only the latest example.”

This morning ConocoPhillips announced the funding for Kuparuk field expansion project Drill Site 2S (DS2S) has been sanctioned by ConocoPhillips and the Kuparuk co-owners, which includes BP Exploration, ExxonMobil and Chevron.

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