Tax breaks tempt BP into increasing Alaska drilling

摘要

BP will spend an extra US$lbn drilling for oil in Alaska over the next five years, as it looks to take advantage of new tax cuts. The money will be invested in running an additional two drilling rigs in the North Slope fields, taking its Alaskan fleet up to nine. It will also upgrade some of its existing facilities, and add 200 hew jobs in the state. The UK-based oil company says it's also evaluating whether to spend an additional US$3bn on developing new projects in Prudhoe Bay, in conjunction with partners ConocoPhillips and ExxonMobil.