ConocoPhillips approves $900 million project in National Petroleum Reserve-Alaska

ConocoPhillips has approved funding for its Greater Mooses Tooth development on Alaska’s North Slope, a $900 million project expected to yield 30,000 barrels of oil daily at its peak, Alaska Dispatch News reports.

Production is expected to begin in 2018 at the field in the National Petroleum Reserve-Alaska, an Indiana-sized Arctic reserve.

Production at the field would be the first time oil has flowed from federal lands on the reserve. Oil also recently began flowing from the oil company’s CD5 project within the reserve boundaries, but that was on land owned by Alaska Native corporations.

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