The Seal of the State of Alaska
  Help    

   
Alaska State Legislature
    Home  |  News  |  Legislators  |  Committees  |  Bills  |  Surveys  |  Archives  |  AchievementsAlaska State Legislature
Alaska State Legislature
Alaska State Legislature
Alaska State Legislature
Alaska State Legislature

Advanced Search
Alaska State Legislature
· Sen. Gene Therriault
Chair
· Contact Staff  
· Next Scheduled Meetings  
· Press Releases  
· Committee Minutes  
· Committee Legislation  
· Bills Referred to Committee  
· Bills Currently in Committee  
· Bills Sent Out of Committee  
· LAA's LB&A Website  
· Background Information  
· 23rd Legislature  
· 22nd Legislature  
Alaska State Legislature
Alaska State Legislature
24th Alaska State Legislature
The 24th Alaska State Legislature
Alaska State Joint Legislative Budget & Audit Committee
Sen. Gene Therriault, Chair

Click image for large 5'' x 7'' portrait
Session:
page content
Toll Free: (800) 860-4797
Send Email
Send Public Opinion Message
Subscribe to Newsletter - Privacy Policy

Interim:
1292 Sadler Way, Room 308
Fairbanks, Alaska 99701
Phone: (907) 488-0857
Fax: (907) 488-4271

Details from Study on Alaska Oil Industry are Released
Alaska State Legislature
Alaska State Legislature
Attachments Attachments
Audio Comments Audio Comments
Supplemental Information Supplemental

 
Released:
February 1, 2005


"We want to make sure we understand what went into the report and why the numbers came out the way they did."
- Sen. Therriault

 

(JUNEAU) - The Legislative Budget & Audit Committee released information from the Wood Mackenzie Global Oil and Gas—Risk and Rewards 2004 today.

The Committee obtained permission to release select information covering exploration and production costs and the State of Alaska’s share of oil revenue and profitability.

Committee Chair Sen. Gene Therriault (R-North Pole) commented, "This report contains a massive amount of information. Now it’s time for us to sit down and try to digest it with the help of additional expertise. We want to make sure we understand what went into the report and why the numbers came out the way they did."

The Committee has retained the State of Alaska’s former chief petroleum economist, Chuck Logsdon, to perform a review and evaluation of the study. The review will:

  • Evaluate the cost assumptions for their appropriateness for Alaska;
  • Verify the accuracy of the modeling of the Alaska fiscal system;
  • Establish whether the assumed field sizes, transportation, and location logistics are appropriate;
  • Review the appropriateness of the low, mid and high price projections;
  • Identify other regions that might be appropriate to be included in a comparative analysis;
  • Review the study for discussions of other intangible risk factors that might be more favorable in Alaska, including, but not limited to, physical security and political stability;

Committee Vice-Chair Rep. Ralph Samuels (R-Anchorage) said, "The data we have released today is your basic bottom line information that companies look at when deciding whether or not to invest in Alaska. We believe this is select but representative data from the report."

The data comes from a study paid for by the Committee that examines Alaska’s position in the global oil market.

Global Oil and Gas—Risks and Rewards (GOGRR) was first published in 2002 and considered data from 1991 to 2000. The 2004 study focuses on the period 1994 to 2003, measuring 66 areas in 58 countries. Alaska is measured and ranked more than 150 ways.

Wood Mackenzie is a consulting firm headquartered in Edinburgh, Scotland that has been providing commercial analysis and strategic advice to the world’s leading energy companies for 30 years.

# # #

 
Attachments:
 
·
Print Text Version
· Acrobat PDF Version [PDF - 2 pages - 97 KB]

Audio Comments:
 

02-01-05 : Sen. Therriault said the Legislative Budget and Audit committee worked with Wood Mackenzie Global Oil and Gas to see what information could be released. The LBA committee wanted the public to understand what kind of information [PDF - 2 Page(s) - 130 KB] the committee was working with.
Requires Real Audio Player = Gene Therriault
27 KB
Requires An MP3 Player = Gene Therriault
215 KB

02-01-05 : Rep. Samuels said the numbers from the recently released Wood MacKenzie Global Oil and Gas report [PDF - 2 Page(s) - 130 KB] - are preliminary and need further study. However, they show that Alaska is a high cost location for the oil industry but that the industry can make money up here.
Requires Real Audio Player = Ralph Samuels
36 KB
Requires An MP3 Player = Ralph Samuels
292 KB

Supplemental:
 

Wood Mackenzie Global Oil and Gas - Risks and Rewards 2004 Report
[PDF - 2 page(s) pages - 130 KB]


Sign Up For E-News!

Unsubscribe  Privacy
Alaska State Legislature
· 25th Legislature Info
House Majority
House Minority
Senate Majority
Senate Minority
BASIS
 
· 24th Leg. Special Session Info  
· Oil & Gas Production Tax Information  
· Keyword Search  
· Legislator Districts  
· Photo Table  
· Passed Legislation  
· Past Legislatures  
· More Web Tools  
· Majority Press Staff  
· Information Offices  
Requires Real Audio Player = Adobe PDF Reader  
Requires Real Audio Player = Real Audio Player  
Requires Real Audio Player = MP3 Audio Player  
Alaska State Legislature
Alaska State Legislature
Alaska State Legislature

1 Viewer(s)

Total at this time.
Alaska State Legislature
Alaska State Legislature
Alaska State Legislature
· Sen. Gene Therriault
Chair
· Rep. Ralph Samuels
Vice-Chair
 
· Rep. Mike Chenault
 
· Rep. Mike Hawker
 
· Rep. Pete Kott
 
· Rep. Beth Kerttula
 
· Sen. Ben Stevens
 
· Sen. Bert Stedman
 
· Sen. Lyda Green
 
· Sen. Lyman Hoffman
 
· Rep. Kevin Meyer
Alternate
 
· Rep. Reggie Joule
Alternate
 
·  
Alaska State Legislature
Alaska State Legislature
Alaska State Legislature
Home  |  News  |  Legislators  |  Committees  |  Bills  |  Surveys  |  Archives  |  E-News  |  HelpAlaska State Legislature
Alaska State Legislature
The Official Web Site of the House and Senate Legislative Majorities
for the Alaska State Legislature

To Report Technical Problems or Contact Webmasterse-mail address list