Petro-Canada expects to start spending money on its growing Alaska holdings in the next one to two years, Chief Executive Officer Ron Brenneman told a conference call this morning.
But he said a final decision hinges partly on trying to anticipate when an Alaska pipeline.html'>gas pipeline might proceed.
Brenneman said a partnership with Anadarko for the gas-prone Foothills region of the Brooks Range is now looking at laying out a joint seismic program.
He said the two companies have pooled 1.5 million acres to overcome what he described as a checker-board pattern of holdings.
In the oil-prone National Petroleum Reserve-Alaska he said Petro-Canada is examining other pooling arrangements with parties he did not identify.
Brenneman said the hope for the NPR-A is that discussions will “ultimately lead to a joint partnership” for exploration.
Editor’s note: See story in May 1 issue of Petroleum News