Printer Friendly

More & less.

More & Less. At the same time that Prudhoe Bay's two operators announced intentions to eliminate positions in their firms by sharing common services and through other cooperative efforts, they and other principal owners of the Prudhoe Bay oil field unveiled plans to invest more than $1 billion in additional gas-handling facilities on the North Slope.

Announced in October, BP, Arco, Exxon, Phillips, Mobil and Chevron will build and install a centralized gashandling plant that will increase oil production by an estimated 100,000 barrels a day starting in 1995. Arco will operate the facility, which is expected to permit recovery of between 330 million and 450 million additional barrels of oil over the life of the field. The first module is scheduled for a 1993 sea lift from the Lower 48 to Prudhoe Bay.

According to Julian Darley, president of BP Exploration (Alaska), the construction plans were made possible by resolution of longstanding disputes among owner companies over how much natural gas is available at wells and who owns how much of the gas.

BP Exploration and Arco Alaska are conducting a joint review of operations to determine ways to reduce operating costs. A plan outlining which positions should be combined is expected to be completed early in 1991 and to be implemented over the course of a year. The cost-cutting measures are considered necessary to make operations more efficient as the field's decline, begun in 1988, continues. Layoffs will affect workers in Anchorage and on the North Slope.
COPYRIGHT 1990 Alaska Business Publishing Company, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1990 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Alaska Business Briefs: Energy; owners of Prudhoe Bay oil field eliminate some jobs and increase investments
Publication:Alaska Business Monthly
Date:Dec 1, 1990
Previous Article:Alaska's appetite.
Next Article:Toast to Alaska's health this holiday.

Related Articles
Oil field foils.
Crisis casts new light on ANWR.
Short-term fix masks long-term perils.
Missing links leave oil untapped.
Pursuing Point McIntyre.
Family feud.
Satellite fields: expanding North Slope production.
Seeing the Light, Setting Standards and Piping Oil.
Gas line: delays possible majors say; the debate continues on gas line's future.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters