News from the Alaska State Legislature, the Office of Senator Giessel
For Immediate Release: October 04, 2016
Sen. Giessel Congratulates Caelus for Major Oil Discovery
ANCHORAGE – Sen. Cathy Giessel (R-Anchorage) congratulated Caelus Energy Alaska today for its major oil discovery on the North Slope.
“This is fantastic news,” said Sen. Giessel. “Between the Smith Bay and Pika discoveries, Alaska potentially stands to put over 300,000 barrels of new oil through the Trans-Alaska Pipeline System. Coupled with the fact that 2015 saw the first increase in oil production for almost 20 years, the work of independent legacy companies is increasing the lifespan of one of Alaska’s main economic drivers.”
The Smith Bay fan complex may contain upwards of 10 billion barrels of oil and development could increase Trans-Alaska Pipeline System (TAPS) throughput by an additional 200,000 barrels of oil per day, according to Caelus.
For more information, contact Daniel McDonald in the Senate Majority press office at (907) 269-0147.
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