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Politics : Mainstream Politics and Economics

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To: Sdgla who wrote (41683)	4/20/2013 5:32:56 PM
From: Brian Sullivan	Read Replies (1) of 85487

ConocoPhillips to increase Alaska production ANCHORAGE, Alaska (AP) — Just days after the Alaska Legislature lowered taxes on the oil industry, ConocoPhillips announced plans to boost investment on North Slope fields. ConocoPhillips is planning to bring an additional rig to the Kuparuk field this spring and working with co-owners to fund a new drill site on the Kuparuk River field, the company said in a Wednesday announcement. It's also beginning the regulatory and permitting stage and starting engineering for the Greater Moose's Tooth unit in the National Petroleum Reserve-Alaska. "These are some examples of the activities ConocoPhillips plans to kick off in the near future to help bring new investments and produce more oil from legacy and satellite fields," ConocoPhillips Alaska President Trond-Erik Johansen said in a release. How much this would cost the company wasn't immediately clear and probably wouldn't be until the company completes it's planning and engineering process. businessweek.com

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