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Vol. 25, No.20 Week of May 24, 2020
Providing coverage of Alaska and northern Canada's oil and gas industry

Sidebar: Bring ownership back

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Kay Cashman

Petroleum News

When Brooks Range Petroleum Corp. announced the Mustang discovery in 2012, it needed help to bring the field into production, which arrived in mid-2014, when JK E&P Group Pte. Ltd., Thyssen Petroleum North Slope Development LLC and MEP Alaska LLC acquired BRPC and a package of North Slope properties from Alaska Venture Capital Group and Ramshorn Investments Inc. for $450 million.

Majid Jourabchi, president of Thyssen Petroleum USA, addressed reports that he was part of a team attempting to buy majority ownership in the Mustang oil development from investors in Caracol Petroleum, as well as restart shut-in oil production later in the year.

“We’re trying to bring ownership back to the North Slope,” Jourabchi told Petroleum News in a May 21 email. “Anything else is not very accurate. As a start I am not a director of Alpha Energy, but we are trying to simplify the ownership and to refocus the operations.”

- KAY CASHMAN



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