RCA approves Kuparuk Pipeline transfer
The Regulatory Commission of Alaska has approved the transfer of BP Transportation (Alaska)ís interest in the Kuparuk Transportation Co. to the Kuparuk Pipeline Co. The KTC ownership has been KPC 57 percent, BPTA 38 percent and Unocal Pipeline Co. 5 percent. KTC is wholly owned by ConocoPhillips.
The pipeline is part of an acquisition by ConocoPhillips of BPís interests at Kuparuk announced in July. The companies said ConocoPhillips was acquiring BPís 39.2 percent interest in the Greater Kuparuk area and BPís 38 percent interest in the Kuparuk Transportation Co. for an undisclosed price and was selling BP a subsidiary with a 16.5 percent interest in the Clair field in the United Kingdom.
The Alaska Division of Oil and Gas approved Kuparuk River unit lease assignments from BP Exploration (Alaska) to ConocoPhillips Alaska in November.
ConocoPhillips was already the majority working interest owner at Kuparuk, with 55.3 percent, and the operator. Other interest owners include Chevron at 4.9 percent and ExxonMobil at 0.6 percent.
Earlier in the year ConocoPhillips closed on a $400 million acquisition of Anadarko Petroleumís 22 percent interests in western North Slope properties, including the Colville River unit and Greater Mooses Tooth.
- KRISTEN NELSON