BP Exploration Alaska Inc. recently announced expectations of significantly increased output from its oil-production operations in Alaska.
The company plans to boost oil output from its North Slope fields by 100,000 barrels a day over the next few years, BP executives say. This projection represents a more than 20% increase in BP's Alaska production over its current 460,000 barrels a day. BP bases its projections on four new fields scheduled to begin production in 2001 -- Badami, Northstar, Liberty, and Tarn -- as well as ongoing drilling, enhanced oil recovery, and satellite development projects in existing fields such as Prudhoe Bay.
BP's Alaska resource base stands at over 7 billion barrels, more than a third of which is proven reserves, the company says. Reduced costs and technological advances have made expansion on the North Slope feasible, officials report.
