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Gold/Mining/Energy : Alaska Natural Gas Pipeline

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From: Snowshoe	9/3/2008 5:12:51 AM
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Alaska NS Milne Point: Heavy oil project begins tests for viability EXTRACTION: Production challenges make project an unsure endeavor. By ALAN BAILEY Petroleum News Last Modified: September 1st, 2008 10:38 PM Fingers are crossed at BP as the company's heavy oil project in the Milne Point field moves into its first test phase. The company is lowering a pump into a well designed to extract oil with the consistency of chocolate syrup from the Ugnu formation, a big but shallow oil reservoir just 4,200 feet below the surface. An initial test should take about three weeks, with phase-one testing continuing into next year, with the drilling of three more wells, Eric West, BP's heavy oil project manager, told a media tour of the Milne Point test facility this month. The total cost of phase one is pegged at $68 million. more: adn.com

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