ConocoPhillips Alaska announced a decision to proceed with construction of its Greater Moose’s Tooth No. 1 oil project in the National Petroleum Reserve Alaska (NPRA).
Company President Joe Marushack told the annual Resource Development Council conference in Anchorage on Wednesday the project is expected to cost about $900 million and follows the recent completion of CD-5, another NPRA project.
Construction on Greater Moose’s Tooth No. 1 is expected to begin in 2016 and the project will be in production in 2018.
The project is expected to produce 30,000 barrels per day at its peak.
The drilling permit for Greater Moose’s Tooth No 1 was submitted by ConocoPhillips in 2013 and approved by the U.S. Bureau of Land Management on October 22, 2015.
