Detected oil field of 1.2 billion barrels in Alaska
In an area that had been deemed to have run out of oil in Alaska (USA), oil companies said they had found a huge oil field, reserves of up to 1.2 billion barrels.
In an area that had been deemed to have run out of oil in Alaska (USA), oil companies said they had found a huge oil field, reserves of up to 1.2 billion barrels.
The two oil companies that found the mine are Spanish oil giant Repsol and American company Armstrong Energy. Repsol and Armstrong said they will start exploiting the oil field by 2021 with an output of about 120,000 barrels / day.
Repsol operates oil in Alaska - (Photo: CNN).
This mine is in the oil well known as Horseshoe , owned by Armstrong 75% and Repsol controls the remaining 25%.
This is the largest inland oil field in the United States discovered in the past 30 years.
Kristian Rix, Repsol's spokesperson, told CNN: "The interesting thing about this discovery is that the area of northern Alaska, which is considered to be depleted of oil. And this is a breakthrough discovery."
The discovery was announced just six months after Caelus Energy and Apollo Global Managment announced that they had found a huge oil field in Smith's Sea in Alaska.
With these two findings, Alaska governor Bill Walker said this was good news and would help the trans-Alaska oil pipeline system work effectively.
In recent years, Alaska - the main income state from taxing oil and gas, has been facing many difficulties because of shallow oil fields and falling oil prices.
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