February 02, 2005
The Committee obtained permission to release select information covering exploration and production costs and the State of Alaska's share of oil revenue and profitability.
Committee Chair Sen. Gene Therriault (R-North Pole) commented, "This report contains a massive amount of information. Now it's time for us to sit down and try to digest it with the help of additional expertise. We want to make sure we understand what went into the report and why the numbers came out the way they did."
The Committee has retained the State of Alaska's former chief petroleum economist, Chuck Logsdon, to perform a review and evaluation of the study. The review will:
Committee Vice-Chair Rep. Ralph Samuels (R-Anchorage) said, "The data we have released today is your basic bottom line information that companies look at when deciding whether or not to invest in Alaska. We believe this is select but representative data from the report."
The data comes from a study paid for by the Committee that examines Alaska's position in the global oil market.
Global Oil and Gas-Risks and Rewards (GOGRR) was first published in 2002 and considered data from 1991 to 2000. The 2004 study focuses on the period 1994 to 2003, measuring 66 areas in 58 countries. Alaska is measured and ranked more than 150 ways.
Wood Mackenzie is a consulting firm headquartered in Edinburgh, Scotland that has been providing commercial analysis and strategic advice to the world's leading energy companies for 30 years.
Source of News: