ConocoPhillips Gets Approval for Production Site inside Alaska Federal Reserve

ConocoPhillips gained approval to build the first oil production facilities at a federal reserve in Alaska. The U.S. Bureau of Land Management approval allows the company to construct an 11.8-acre drilling pad and other infrastructure within the reserve. The project boosts the possibility of adding oil to the 800-mile-long Trans-Alaska Pipeline System, designed to ferry 2 MMbpd of crude from the North Slope. It is currently at about 25% capacity due to production declines.

ConocoPhillips gained approval to build the first oil production facilities at a federal reserve in Alaska. The U.S. Bureau of Land Management approval allows the company to construct an 11.8-acre drilling pad and other infrastructure within the reserve.

The project boosts the possibility of adding oil to the 800-mile-long Trans-Alaska Pipeline System, designed to ferry 2 MMbpd of crude from the North Slope. It is currently at about 25% capacity due to production declines.