Willow Project Makes Major Progress In Permitting Process

first_imgThe Willow project could produce up to 130,000 barrels of oil daily, according to the most recent data provided by ConocoPhillips. The bureau said they will release a final report before a development plan is selected. Company executive vice president Matt Fox calls the results “promising.” The company says it plans to drill five wells, including two appraisal wells at Willow. Facebook0TwitterEmailPrintFriendly分享The federal Bureau of Land Management released a draft environmental report on ConocoPhillips Willow project in the northeastern National Petroleum Reserve-Alaska. In 2018 Alaska received $900 million, which is substantially less than what the company is spending in the upcoming year. The company set their total budget at $6.1 billion for 2019. The company cited development in the Greater Moose’s Tooth 2 field and the neighboring Willow Discovery in the National Petroleum Reserve-Alaska (NPR-A) as reasons for the budget increase. Oil production would begin in 2024 under the plan. The state would collect $1.7 billion in taxes, plus $2.5 billion in royalties related to the National Petroleum Reserve-Alaska impact mitigation fund. The federal government would collect $4.4 billion in taxes and royalties, while the borough would receive $1.9 billion in property taxes. The plan calls for five drill sites linked by seven bridges, an airstrip, 38 miles of roads, and a processing facility to prepare crude oil for shipment. The plan also includes 267 miles of individual pipeline and a state application for a temporary island for barges.last_img