ConocoPhillips Scuttles Chukchi Exploration

摘要

ConocoPhillips has put on hold plans to explore Alaska’s Chukchi Sea in 2014, “given the uncertainties of evolving federal regulatory requirements and operational permitting standards.” The Alaska arm of the Houston producer said “it would not be prudent at this time to make the significant monetary commitments needed to preserve the option to drill in 2014.” Just last month the Interior Department’s Bureau of Ocean Energy Management said it was reviewing an exploration plan that might allow drilling to begin in the Chukchi next year (see NGI, March 18a).