Exxon Mobil looking to expand its businesses in Alaska – Oil and Gas News Update

Exxon Mobil is on its way to the development of part of a huge, distant points Thomson oil and gas fields to the east of Prudhoe Bay, in accordance with the requirements of court settlement reached earlier this year with the Parnell administration, the senior
manager on the project told lawmakers Tuesday.

Senate Judiciary Committee was to conduct oversight hearings considering the settlement of a good thing for the state. Many administrations have tried and failed to force Exxon to develop the point of Thompson, who some call the rest of Alaska’s gem on public
lands. While there is only a minimal activity. "I’m looking for a trap," Sen.

Hollis French, Anchorage Democrat who heads the committee, said at the beginning of a one-day meeting. Agreement "was developed in secret. It was built between the administration and Exxon. This should make the hair on the back of his neck stand up Alaska.

" The new settlement provides for the terms and requirements for the work, which should eventually lead to the production – or Exxon will have to return the leased area of ??the state, according to state officials and their lawyers. "We ended up storing
these resources," Joe Balash, the Deputy Commissioner of Natural Resources, told the committee.

Point Thomson holds hundreds of millions of barrels of oil, but the main goal has always been natural gas, estimated in the State of 8000000000000 cubic feet. The field contains about a quarter of recoverable gas stations of the North, so that the solution
of legal issues have been considered key to the viability of a large gas pipeline.