underway. Nuna, a new project in the Kuparuk River Unit that is expected to add 20,000 barrels per day when it is completed. The work benefits other Alaska communities, too. For example, a drill site module for Nuna is being built in Anchorage at the North Star Terminal and Stevedore facility in the city’s Ship Creek industrial area. Delta Contractors has about 350 workers on the North Slope this year and another 75 in Anchorage, Andrews said. The workforce challenges affecting most businesses in Alaska are being felt by North Slope support contractors but are being managed. “Electricians are a struggle for everyone,” he said. “We’re able to source welders but it’s not like it was five years ago,” when more were available. Delta Contractors has recently been able to recruit welders trained at the Alaska Vocational and Technical Center in Seward. Supply chain issues are easing after serious disruptions caused during the pandemic. But inflation continues to affect equipment and material costs, with some costs up 20 percent from last year, Andrews said. Isaacson said Alaska’s stable fiscal regime is clearly working to promote new and ongoing investment. Projects like Willow and Nuna are a result of changes made in 2013 by the state Legislature to stabilize the state’s oil and gas tax system. “Our investment in projects like Willow and Nuna demonstrates our continued commitment to deliver new barrels and contribute significantly to the State’s economy,” Isaacson said. — Tim Bradner THE LINK: JULY 2024 16 CONTINUED from PAGE 15 ConocoPhillips Alaska reported net income of $346 million in the first quarter of 2024. During the quarter, ConocoPhillips Alaska incurred an estimated $421 million in taxes and royalties, which includes $303 million to the State of Alaska and $118 million to the federal government. Since 2007, ConocoPhillips Alaska has incurred more than $45 billion in taxes and royalties to the State of Alaska and the federal government. Of that amount, about $35 billion went directly to the state. In that same period, ConocoPhillips Alaska’s earnings were approximately $26 billion. — Tim Bradner ConocoPhillips’ 1Q Alaska income: More to government than earned
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