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Offshore Alaska: the upstream oil industry's next frontier
Alaska could hold impressive offshore oil reserves, writes Anne Feltus
The US Minerals Management Service (MMS) says the Alaska Outer Continental Shelf holds an estimated 27bn barrels of recoverable oil – 2bn more than the state's Prudhoe Bay oilfield, North America's largest, initially contained – and 130 trillion cubic feet (cf) of recoverable natural gas. As production from Prudhoe Bay and other Alaskan North Slope fields has declined and oil shipped through the Trans-Alaska Pipeline System south to the Valdez export terminal has dwindled, from 2m barrels a day (b/d) in 1977 to 0.7m b/d, the industry is looking to Alaska's offshore to extend the pipeline's useful life. These Arctic waters could also help ensure the future of the proposed $26bn pipeline to carry gas from the North Slope to the US' Lower 48 states. The Click here to continue reading Offshore Alaska: the upstream oil industry's next frontier
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