ConocoPhillips touted its growing footprint in Alaska on Thursday, less than two weeks after an oil rig ultimately destined for the company’s Willow project crashed in the remote reaches of the state’s North Slope.
In an earnings call, company officials emphasized that the oil rig crash had not delayed plans for the $9 billion Willow Project, which they said was on schedule to produce oil in 2029. They also emphasized that further developing the company’s Alaska assets is a top priority this year.
“We remain focused on infrastructure-led exploration and are shifting our focus this year to Alaska where we have four wells fully permitted and are looking to unlock additional resources near to our infrastructure hubs, building on our decade of disciplined exploration and appraisal spend in Alaska,” said Andy O’Brien, chief financial officer of ConocoPhillips.
Increasing oil exploration and production in Alaska has been a goal of President Donald Trump’s since the first day of his second term, when he signed an Alaska-specific executive order that opened up wide swaths of the Arctic to potential drilling.
