ExxonMobil, BP, ConocoPhillips and TransCanada have begun summer field work as part of their activities associated with a staged pre-FEED (front end engineering design) for the Alaska South Central LNG (SC LNG) project. This summer field work will employ approximately 150 people.
Since the joint work began in March 2012, the companies expect to spend $80 - $100 million by year-end 2013. This builds upon more than $700 million in past work by the collective companies, including the joint Alaska Gas Producer Pipeline Team effort in 2001-02, the Denali Project and APP (including the State's contribution through AGIA). This commitment to summer field work and other activities will enable the companies to evaluate major future engineering commitments. Towards this goal, a competitive, predictable and durable oil and gas fiscal environment will be required for a project of this unprecedented scale, complexity and cost to compete in global energy markets.
The project companies have completed commercial agreements to support both the summer field work and other activities to further advance the project. The planned summer field work consists of studies to collect and analyze environmental and other scientific data required to support future regulatory filings that are key to the approval of this $45-65+ billion project. The study area will be along a potential pipeline route north of Livengood, a distance of approximately 400 miles. This work provides detailed knowledge of the route, including information on fisheries, stream hydrology, water resources, wetlands mapping and socioeconomic assessments to support potential permit applications.
“The summer field work is a key activity to support the project’s engineering, design and cost estimation work while also gathering data required for permitting the project,” said Steve Butt, senior project manager. “It is another significant step forward for the SC LNG project, further demonstrating the commitment and capabilities of the sponsor companies.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV