Alaska Upstream: 2016 in review and what to look for in 2017 Report

Insight 03 February 2017

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Report summary

Fiscal change and two full years of depressed commodity prices have shaped the outlook on Alaska's North Slope. On one hand, with six fields under development or evaluation, the project pipeline is the busiest it has been in years. Discovered volumes were at a multi-year high and key appraisal programmes are planned in 2017. On the other hand, fiscal uncertainty and low oil prices have challenged operators and caused delays. HB 247 was passed in mid-2016 and impacts newer fields and small operators the most. Additionally, the new Trump Administration will work through its new energy policy agenda, which will have repercussions for the federal lands on Alaska's North Slope.

Executive Summary
What to watch for in 2017
- Plentiful development opportunities will confront diverse challenges in 2017
- Alaska LNG partner misalignment growing
- Fiscal uncertainty to remain a certainty
2016 leasing review: North Slope and NPR-A dominate the field
- North Slope, Beaufort Sea and NPR-A
- Federal Outer Continental Shelf- Beaufort and Chukchi seas, Cook Inlet