In addition to be being blessed with massive conventional resources, significant advances in unconventional technologies and heightened activity in Alaska's offshore waters have opened a new frontier of petroleum development in the state. Of prime interest has been a massive shale play and promising potential for offshore developments in Alaska's Outer Continental Shelf (OCS). "We believe that the only way for Alaska to stop the decline and pull production back up to the million barrel target is by fully developing the unconventional resources that it has available," says Ed Duncan, chief executive officer of Great Bear Petroleum. "The unconventional resource play in Alaska is vast. It also is located onshore and it has the promise and ability to quickly go from discovery to production into TAPS. We see the unconventional resource play in Alaska as being unsurpassed as far as its potential impact on the state."
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