Hilcorp eyes Alaskan oil

Hilcorp eyes Alaskan oil

Despite many failed attempts this year to get Artic offshore drilling underway, one company from Texas is plowing ahead with its own plans.

Hilcorp Energy is looking at building a 23-acre gravel island as a platform for five or more extraction wells that could tap oil six miles from shore in the Beaufort Sea. Its plans are now being studied by the US Bureau of Ocean Energy Management.

Hilcorp projects a peak production rate of up to 70,000 barrels of oil per day within two years of initial production. Over 15 to 20 years, the company predicts it would yield 80 to 150m barrels of oil.

The environmental review will not be completed until at least 2017, and production could be several more years off. Locals in Alaska have voiced their strong opposition to the project.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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