BP REVIVES NIAKUK DEVELOPMENT PLAN OFF ALASKA"S NORTH SLOPE

Proposed development of Niakuk oil field in shallow waters of the Beaufort Sea off Alaska has been revived under a new scheme by operator BP Exploration (Alaska) Inc. The project originally was intended to start up in 1992 and produce 20,000 b/d of oil until it ran afoul of environmental permitting and economic concerns. The Niakuk development proposal was shelved in 1990 after engineering studies led BP to increase its estimate for development costs to about $250 million from $130 million to

Mar 9th, 1992
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