JUNEAU, Alaska, Nov. 20 (UPI) -- International oil companies gave a mixed report on the prospects of continuing plans for developments in the Alaskan North Slope.
Alaska is one of the more energy-rich U.S. states. Economic incentives and declining potential prompted several majors to look elsewhere, however, reports the Anchorage Daily News.
ConocoPhillips announced that for the first time in more than 40 years, there are no plans to drill new exploration wells in Alaska in 2010. The supermajor instead plans to move its interests to the offshore Kuparuk and Alpine fields.
BP officials, meanwhile, said it made more economic sense to shift its focus to developments in the Gulf of Mexico.
Exxon Mobil, however, said it plans to push ahead with an effort to start production at the Point Thomson project by the end of 2014.
Former Republican Gov. Sarah Palin advocated strongly for oil and gas investments in her state during her tenure from 2006 to 2009. Her successor, Gov. Sean Parnell, vowed to carry on with a push for exploration of Alaskan reserves.
