ConocoPhillips is Alaska’s largest crude oil producer and largest owner of exploration leases, with approximately 1.3 million net undeveloped acres at year-end 2020.
ConocoPhillips has major ownership interests in two of North America’s largest oil fields, both located on Alaska’s North Slope — Kuparuk, which the company operates, and Prudhoe Bay. Additionally, ConocoPhillips operates the Alpine Field and three satellites located on the Western North Slope.
Significant oil exploration and development opportunities still exist on the North Slope, with 75% of the company’s exploration portfolio undrilled. Final appraisal of the Willow and Narwhal discoveries was completed in 2020.
In 2019, the company announced its intention to sell approximately 25% working interest in the Greater Kuparuk Area and in Western North Slope operations, including undeveloped acreage in the National Petroleum Reserve — Alaska (NPR-A).
Alaska at a Glance
As of December 31, 2020
2020 Production Mix
Full-year 2020 production in the Alaska segment was 198 MBOED.