The Link - Spring 2024

Linking Alaska’s Resources to Alaska’s People 56 2024 Meet Alaska Conference & Trade Show it takes to get approval to drill a well. We must make progress in cutting the red tape. “Which brings us to another concern: the safety of the environment, which is no bigger concern to the state and its people than it is to us operators.” “Many of you have heard about our rigsto-reefs program in the Gulf of Mexico. I was stunned to hear some express concern about the coexistence of the fishing industry and the oil industry here. “Our success as an industry will help the overall economy of the state. It will create jobs and make a significant contribution to the nation’s future energy and mineral supply. But for future operations to take place in a timely manner, it’s imperative that we continue to work together, for the common good of all.” Richard H. Weaver, Alaska Operations Manager, Exxon Weaver recounted Exxon’s long history in Alaska but focused on future investment. “Our 1984 program is a significant program for Exxon, for the state and for the nation as we test new frontiers which we hope will yield the oil resources which America will need to move into the 21st century. Long lead times are required to lease, explore, and develop projects in the Arctic. And t hat means that what we are doing today will not result in new oil production until the late 1990s or beyond. “But despite those long lead times and the high likelihood that any specific effort will be unsuccessful, we are optimistic that exploration of Alaska’s onshore and OCS areas over the next few years will prove the existence of major petroleum resources upon which the nation is depending for the energy needs beyond the year 2000.” Roger Herrera, Manager of Exploration/ Lands, SOHIO Alaska Petroleum Company SOHIO had a prominent role in the early days of Alaska oil exploration and the development of Prudhoe Bay and was ultimately purchased by BP. “Let me point out a few facts of life which are somewhat depressing but have to be faced. The most difficult thing we have to do in exploration is not drilling — it is getting the permits to drill. It takes longer, is almost as expensive, and it is certainly more frustrating. “As we go into future leased areas, and hopefully they will be leased despite what Governor Sheffield said this morning, we are dealing with hundreds of miles to get North Slope/Beaufort Sea oil to Pump Station 1. That translates into an even more difficult task than the one exploration has faced to date. We have to find larger and larger fields. “Why, if our record is so dismal, are we still exploring in this state? It is well known that in the Lower 48 … one well in 50 wildcat wells find 1 million barrels of recoverable oil … One in 35 exploration wells in the State of Alaska (leaving aside Prudhoe Bay) has to date discovered about 130 million barrels of recoverable oil. If you put Prudhoe Bay into the equation, the amount of oil goes up to 800 million barrels of recoverable oil. “That is the reason we are still looking for oil in Alaska.” Herrera talked with enthusiasm about the potential in ANWR. “Sohio is most intrigued…to be operating on the ASRC, the Arctic Slope Regional Corporation acreage near Kaktovik. This is right in the lion’s mouth, so to speak. We have talked about the Arctic National Wildlife Range (ANWR) for long enough; finally, we have the opportunity to do something.” Milton Byrd, Alliance president, visionary and moderator for the entire day, provided an eloquent summary of the first Meet Alaska “High potential. That’s very clear. The state remains one of high potential, despite an awful lot of disappointment. CONTINUED from PAGE 55

RkJQdWJsaXNoZXIy MTcxMjMwNg==