Exxon Mobil Corp. and Alaska officials are trying to settle a lawsuit over a North Slope natural gas field deemed essential to a successful 1170mi pipeline project. The disputed leases are at Point Thomson. Exxon Mobil and its 26 partners have long held that developing this field is critical to launching a pipeline that would help deliver up to four billion cu/ft of natural gas to the Midwest, but it has not developed the field in the 30 years it has held lease rights. Nearly two years ago, the state decided that Exxon Mobil was not meeting its development obligations and announced plans to rescind leases from the company. In December 2007, the Superior Court determined Exxon Mobil deserved a chance to tell the state why its leases should not be revoked. The two sides have held several meetings the last few weeks over the lawsuits. The state still wants full revocation of the leases, and Exxon has sued to keep them. Meanwhile, Exxon Mobil says it’s ready to begin a six-year, USD 1.3 billion project in an effort to save the leases. The plan calls for producing 200 million cu/ft of natural gas per day by late 2014.