Governor Sean Parnell today welcomed news that
ConocoPhillips has increased its budget for capital costs in
Alaska by more than 50 percent.
In the announcement, the company specifically cited Alaska’s new
oil tax system, the More Alaska Production (MAP) Act, as a
reason for the increased spending.
“Today’s announcement is further proof that the More Alaska
Production Act is working,” Parnell said. “Billions of dollars
in new investment have been announced since I signed the MAP Act
into law, and it’s helping to keep Alaska’s businesses and
workers busy as they go after new oil production. Alaska is on
track for more oil in the pipeline and more opportunities for
future generations.”
ConocoPhillips’ 2014 capital costs budget for Alaska is $1.7
billion, which is $600 million more than 2013. |
