Competitive Framework for Alaska: 2012

International competition New Production The Alaska light oil production is rapidly declining at about 5% per year. As stated earlier, there may be about one billion barrels of possible new production under more favorable fiscal terms. The production costs of this new oil is likely high on a per barrel basis. The World Rating for Oil and Gas Terms provides information as to a reasonable government take for new production from the Deep Water report and the North American report. 37

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