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NEWS BULLETIN

September 23, 2003 --- Vol. 9, No. 92September 2003

First MMS Beaufort Sea lease sale in five years garners 37 bids

The U.S. Minerals Management Service said Sept. 23 that it received 37 bids for tracts in Beaufort Sea Lease Sale 186, which will be held at 9 a.m., Sept. 24, at the Loussac Library in Anchorage.

MMS Director Johnnie Burton will speak briefly before the sale. MMS Regional Director John Goll will announce the results of the sale immediately after the bid reading.

The sale area extends from the Canadian border on the east to near Barrow on the west, and includes approximately 1,794 whole or partial blocks that encompass approximately 9.4 million acres on the outer continental shelf north of Alaska in the Beaufort Sea. MMS said the sale includes a package of economic incentives, as well as special requirements for safeguarding the bowhead whale subsistence hunt in the area.

Sale 186 will be the first sale in the federal portion of the Beaufort Sea since 1998.

For more information about the sale, visit http://www.mms.gov/alaska/

The state of Alaska receives 27% percent of all revenues generated on federal leases located within three to six miles offshore the Alaska coast; a portion of this money goes into the Alaska Permanent Fund account.

MMS said that since 1986 the state has received more than $520 million from OCS revenues.

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