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137

Conoco and BP to Invest In Boosting Output

Two world's oil giants, ConocoPhillips of US and BP of UK announced Tuesday

Conoco and BP to Invest In Boosting Output

Two world?s oil giants, ConocoPhillips of US and BP of UK announced Tuesday they would spend $500 million to increase oil output at new Alaska's West Sak oil field to 45,000 barrels per day by 2007.
Current production at the field is about 10,000 bpd, the companies said.

ConocoPhillips, the field operator, owns 52 percent of West Sak, BP owns 37 percent, and the rest hold ExxonMobil with 5.8 percent, Unocal with 5 percent and

ChevronTexaco with 0.1 percent.
West Sak is a large, shallow, heavy oil accumulation that overlies much of the ConocoPhillips-operated Kuparuk field on Alaska's North Slope.

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