Project Profile
Value: US$41 billion
Locations: northern slope of the Brooks Range along the coast of two marginal seas of the Arctic Ocean, the Chukchi Sea being on the western side of Point Barrow, and the Beaufort Sea on the easter, Alaska, USA
Reserves: Over 37 trillion cubic feet of natural gas
Area: 2,000 square kilometres
Start-up Year: -
Located on the northern slope of the Brooks Range along the coast of two marginal seas of the Arctic Ocean, the Chukchi Sea being on the western side of Point Barrow, and the Beaufort Sea on the eastern. The North Slope of Alaska is an especially promising area for Repsol as it has already shown to be oil-rich and carries low exploratory risk. This acreage also helps increase the company’s presence in OECD countries. In April 2013, Repsol made three oil discoveries on the North Slope April 23, two of them encouraging enough for future development. Armstrong owns 51% and Repsol 49% in the development area, and Armstrong 75% and Repsol 25% in the exploration area.
Operators:
Development Area
70 & 148 LLC (subsidiary of Armstrong Oil & Gas): Operator with 51% interest
Repsol E&P USA Inc : 49% interest
Exploration Area
70 & 148 LLC (subsidiary of Armstrong Oil & Gas): Operator with 75% interest
Repsol E&P USA Inc : 25% interest
Contractors:
CGGVeritas: Seismic Survey
Kentz Corporation
Erickson: Transportation contract
DeGolyer and MacNaughton: Reserves certification report