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ConocoPhillips obtains key government approvals for Alaska project
ConocoPhillips has obtained important federal government support for pipeline and bridge projectgs that would allow the company to be the first to develop a commercial oil well in Alaska’s National Petroleum Reserve since the reserve was opened to drilling in 1998.
An agreement between ConocoPhillips, the U.S. Fish & Wildlife Service and the Environmental Protection Agency confirms that construction of a pipeline and bridge over the Colville River to an area of development is acceptable, as long as certain environmental mitigations and other changes are accounted for in the permit application.
As part of the agreement, ConocoPhillips has agreed to allow other companies that develop leases in the areas to use the same bridge and crossing. The company expects to produce up to 18,000 barrels of oil per day in its area of development.
Final approval to proceed with the project has yet to come from the U.S. Army Corps of Engineers.