BP has announced plans to add $1 billion in new investment and two drilling rigs to its Alaska North Slope fields over the next five years due to changes in the state’s oil tax policy recently signed into law.
These plans call for an increase in drilling and well-work activity, the upgrading of existing facilities and the addition of up to 200 new jobs in the state.
These plans call for an increase in drilling and well-work activity, the upgrading of existing facilities and the addition of up to 200 new jobs in the state.
“With this new tax law, the Alaska legislature and Governor Parnell have taken an important step toward improving Alaska’s long-term economic future,” said BP Alaska Region President, Janet Weiss. “Our announcement today should make abundantly clear that BP is committed to being a part of that future and to continuing to extend the life of North America’s largest oil field.”
BP Exploration (Alaska) Inc. will issue a request for proposals (RFPs) beginning this summer for the two additional rigs in Prudhoe Bay. The first drilling rig is expected to be in place by 2015 and the second in 2016. This will increase BP’s rig fleet in Alaska to nine.