ConocoPhillips seeking sales of Alaska assets

ANCHORAGE, Alaska (AP) – Officials say ConocoPhillips hopes to sell parts of its Alaska projects to offset risks and share the expenses of investments planned in the state.
Alaska’s Energy Desk reported Thursday that the sale package includes old, new and unbuilt projects representing most of Conoco’s Alaska holdings.
Officials say the assets for sale include the Kuparuk River unit, the newer Alpine unit to the west and the undeveloped Willow project in the National Petroleum Reserve in Alaska.
Officials say the notable exception is the company’s 36% share of the nation’s largest oil field in Prudhoe Bay.
Conoco says the proposed sales stem from a plan to invest $11 billion on its core Alaska assets over the next decade and $5 billion on the Willow project.

Information from: KSKA-FM,