Slide 8 of 18
Notes:
- With respect to the known gas reserves that might be ready to go to market, we focus on two areas, Cook Inlet in the south and the Beaufort Sea in the north. Most of the known discovered gas is in northern Alaska, and this is the energy asset that will drive any major new gas development projects in Alaska. To date, no gas has been exported from northern Alaska.
- The Cook Inlet reserves have produced for 30 years, and at current rates will be depleted by 2012. About 1 tcf is dedicated to future LNG exports to Japan.
- However, in northern Alaska, both onshore and in State waters offshore, there is currently 32 tcf from the oil fields in the Prudhoe Bay and Point Thomson fields. An additional 4 tcf was consumed by the oil production operations themselves. Allowing for continued consumption by production operations, about 26 tcf will eventually be available to be recovered for the market.
- There are also two oil fields in the federal offshore that will go into production soon. The Northstar field should begin production this year, and a draft environmental impact statement was just published for the Liberty field. Liberty is scheduled to go into production in 2003 according to our current schedule.
