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BP to add two drilling rigs in Alaska

2013-06-14

BP PLC plans to add $1 billion in new investment and two drilling rigs to its Alaska North Slope fields over the next 5 years. Executives attributed the increased investment to changes in the state’s oil tax policy that Gov. Sean Parnell signed during May.


In addition, BP said it has support from the other working interest owners at Prudhoe Bay to evaluate an additional $3 billion worth of new development projects in the west end of the Greater Prudhoe Bay area, which could take nearly 10 years, further increasing the state’s oil production and adding jobs.


The additional development opportunities being evaluated include expansion and debottlenecking of existing Prudhoe Bay facilities, constructing a new drilling pad, and expansions of existing pads, including the drilling of more than 110 new wells.

 

“With this new tax law, the Alaska Legislature and Gov. Parnell have taken an important step toward improving Alaska’s long-term economic future,” said BP Alaska Region Pres. Janet Weiss. “BP is committed to being a part of that future.”
BP Exploration Alaska Inc. plans to issue a request for proposals for 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.