By OGJ editors
HOUSTON, Apr. 23 -- Alaska state officials have rejected ExxonMobil Corp.'s latest plan to develop the Point Thomson Unit (PTU) on Alaska's North Slope. The gas-condensate area has no production.
Alaska Natural Resources Commissioner Tom Irwin said the proposed plan was not in the state's best interest because it would have involved development on the 106,200-acre PTU, east of Prudhoe Bay, without any commitment to produce gas.
"In light of the history of this unit, I did not trust the appellant's commitment to follow through with their 23rd plan of plan of development," Irwin said Apr. 22.
No immediate comment was available from ExxonMobil, PTU operator. It estimates the high-pressure reservoir has reserves of more than 8 tcf of gas and 200 million bbl of condensate (OGJ, Mar. 10, 2008, p. 36.)
ExxonMobil along with BP Exploration (Alaska) Inc., Chevron USA Inc., and ConocoPhillips Alaska Inc. hold working interest in PTU, covering 45 state oil and gas leases. The oil companies have said PTU production hinges upon construction of an Alaska gas pipeline to the Lower 48.
