Republican News

Republican News

Jan 11 2006

BLM Opens New Area in NPRA to Oil Leasing – 2 Billion Barrel Yield Expected

Streamlined leasing in energy bill will bring oil to lower 48 states faster, Domenici says

Washington, D.C. The Bureau of Land Management today announced plans to open an additional 390,000 acres in northeast corner the National Petroleum Reserve-Alaska for oil development. The move was made as an amendment to the federal government’s management plan for the area.  The USGS estimates that oil development in this corner of the NPRA could yield 2 billion barrels of recoverable oil in the next several years.

Chairman Domenici’s statement:

“I am pleased with the Administration’s decision to develop new oil resources in our petroleum reserve. Congress designated this land for oil development nearly 75 years ago when it created the naval petroleum. We reaffirmed our intention 30 years ago when we renamed the area the National Petroleum Reserve Alaska.

“With oil hovering at $60 a barrel and some analysts expecting it to climb higher, America must develop more of its own oil. Those who clamor for energy independence certainly recognize that increased production has to be part of that equation.
 
“I took a congressional delegation to this reserve last year. The oil development I saw on the North Slope is clean, safe and environmentally gentle. I was pleased at the abundance of caribou and other wildlife on the slope.

“The Administration took the first step. Now the provisions in our bipartisan energy bill will ensure that the next steps are swift, concise and coordinated. We have streamlined the leasing process in approved drilling areas to avoid years of unnecessary delay and expensive red tape. I look forward to seeing these new procedures implemented in the NPRA to bring these vast reserves of oil to market.”