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BP to boost Alaska spending
last modified
2008-11-21 08:51
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November 20, 2008 ANCHORAGE -- BP, Europe's second-largest oil company by market value, plans to increase spending on capital projects in Alaska to $1.2 billion us in 2009 from $900 million this year, said Doug Suttles, president of BP's Alaska unit, at an industry conference in Anchorage.
About $400 million of next year's budget will go to advancing an offshore oil development called liberty, a heavy-oil project, work on a proposed natural-gas pipeline from Alaska to Alberta and proposed development of Alaska's Point Thomson oil and gas field, he said.Jim Bowles, president of Alaska operations for ConocoPhillips, said the company plans to focus on exploration in The National Petroleum Reserve and offshore in the Chukchi Sea. The company is still coming up with its capital budget for next year, he said.
© 2008 Calgary Herald.