BP outlines economic impact to Alaska
BP just released its sixth annual U.S. Economic Impact Report.
BP began working in Alaska in 1959 and currently operates the entire Prudhoe Bay Field. The report says that the field produced an average of more than 280,000 barrels of oil per day in 2017 -- half of the state's total oil production according to the report.
Here is a look at BP's economic impact to Alaska by the numbers. The company supports more than 8,300 jobs across the state. In 2017, it says it spent more than $855 million with vendors and paid $543 million in taxes, royalties and other government payments. The company also donated more than $6.5 million to community groups, youth teams and student scholarships.
The report doesn't mention BP's asset swap, selling its 39 percent interest in the Greater Kuparuk area on the North slope to ConocoPhillips, an area with production approximately 108,000 barrels of oil per day, according to BP. In return, the swap included BP buying a sixteen-and-a-half percent stake in the Clair Field in the United Kingdom from ConocoPhillips.
The transaction will not impact BP's position as operator and co-owner in the Prudhoe Bay oilfield. BP officials have said the transaction increases the focus at Prudhoe Bay and helps the company be more competitive and sustainable.
BP is also working with the state of Alaska to develop a $43 billion natural gas pipeline project that will deliver gas to Kenai. From there liquefied natural gas would be shipped to Asian markets.
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