NSB, Exxon settle Pt. Thomson tax appeals

The North Slope Borough said in a Feb. 27 statement that it has settled Point Thomson tax appeals with ExxonMobil Alaska Production Inc. ExxonMobil began production from Point Thomson on an intermittent basis last April and production from the field has been fairly steadily since the end of the year.

“Today’s agreement to settle outstanding tax disputes on the valuation of Pt. Thomson development demonstrates another historic milestone for the people of the North Slope Borough,” said NSB Mayor Harry K. Brower Jr.

He said establishing “partnerships and relationship building with external organizations for economic growth and empowerment in our North Slope communities” has been a goal of his administration. The mayor was sworn into office last July.

“This is a perfect example of that,” Brower said. “We recognize that ExxonMobil’s success reflects our leadership and support for responsible development for the betterment of our people and our communities.”

ExxonMobil Alaska Production Manager Cory Quarles said the company deeply values its relationship with the borough “and looks forward to continued collaboration in the future. This serves as an example of how industry and government can work together to enable the fiscal stability that supports local municipalities and provides the foundation for continued investment that benefits all Alaskans,” Quarles said.

Forrest “Deano” Olemaun, chief administrative officer for the borough, said the agreement is for the next four years and said it would provide a more stable and predictable budget environment and help ensure financial security for the borough and the company.

- KRISTEN NELSON