The U.S. Department of the Interior on Wednesday gave conditional approval to privately-held Hilcorp’s long-awaited oil and gas production facility in federal waters off Alaska.
Source: www.reuters.com
With booming shale oil production in Continental US, the Trump administration’s efforts to open Alaska’s Arctic to oil and gas drilling have failed to get attention from producers. The recent approval by the U.S. Interior Department for Hilcorp’s oil and gas project in offshore Alaska assumes significance and could attract other producers to the sparsely populated U.S. state. To be built in a nine-acre artificial gravel island in shallow waters of the Beaufort Sea, the prospect is estimated to hold 150 million barrels of recoverable crude oil.
