Competitive Framework for Alaska: 2012

Terms for Heavy Oil Proposed Terms With the new "architecture" in place for light oil production it is now easy to add terms for heavy oil. At this point in time only 40,000 bopd of heavy oil is being produced. It is not recommended to divide heavy oil in “existing” and “new”. Firstly, because it would be difficult to determine a fair decline curve at this time. Secondly, the volume is too small to make unnecessary complications in the fiscal terms. 89

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