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Alaska Chamber News: April 24-May 8, 2013

Alaska Chamber News                                       April 24 - May 8, 2013
In This Issue
Oil Tax Reform Works
Increased Oil Production
Repsol Makes 3 Discoveries
Looking For a Few Good Teens
A Successful First Legislative Session
Chamber Members Head to the PNW
Business of Clean Energy
 
Committee Meetings 

 

 
Events Committee 
April 25
10:00 am
  
Events Committee 
May 9
10:00 am
      
  
Upcoming Events
 
PNW Fly-In
April 30 - May 2
Pacific Northwest
 
 
Seward Outreach Trip
July 9 - 10
 
Annual Fall Conference
October 15th
Fairbanks, AK
 
Legislative Policy Forum
October 16th
Fairbanks, AK
Lead Sponsors
 
BP
ConocoPhillips Alaska
Exxon Mobil

 
Pioneer Natural Resources
Walsh Sheppard
Wells Fargo


Alaska Communications
Holland America Line
The Pebble Partnership

Partner

Alaska Railroad
Apache
Boeing
Carlile 
TOTE
Tower Hill Mine
TSS, Inc

 
New Members
 
 
Medical Park Family Care
 
Diversified Investments & Insurance
 
 
 
Bank of America
 
 
 
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SB 21 is working as promised, must stay intact

The recent passage of SB 21, the oil tax reform bill, has already been praised for expanded exploration and possible production on the north slope.  Repsol and ConocoPhillips both recently announced expanded exploration and production projects as well as new finds while emphasizing the importance of tax reform as part of their business decision-making process.

 

"We knew ACES was a disincentive to expanded production and development of new finds and have worked tirelessly for three years to make a change," says Rachael Petro, President and CEO of the Alaska Chamber. She goes on to say, 'With the help of our partner organizations we have had a positive impact on oil tax reform and are seeing the immediate effect of these changes."

  

To compete for the investment that will move the needle on production, Alaska must stand out from its competition, as opposed to settling for a position in the middle of the pack and this change helps achieve that.

 

Many Alaska Chamber members as well as the broader public testified in support of oil tax reform and the Alaska Chamber appreciates their time and efforts in this endeavor.

 

Rachael Petro, President and CEO of the Alaska Chamber, points out," The passage of meaningful tax reform is a crucial component for Alaska's economic health.  Rather than allow the tax changes passed in SB 21 to bear fruit over the next few years, plans are already being made by some to return to the onerous ACES tax structure. The business community will continue to advocate for Alaska's future and fight to preserve Alaska's competitive place in the world market." 

 

ConocoPhillips to Increase Alaska Production after Oil Tax Reforms

ConocoPhillips plans to increase its investments on Alaska's North Slope following the Alaska State Legislature's recent changes to the state's oil severance tax system. 

 

With the improvements to Alaska's severance tax system, ConocoPhillips is planning new work on the North Slope, including: 

 

* bringing an additional rig into Kuparuk this spring; 

* working with co-owners on funding for a new drill site on the southwest flank of the Kuparuk River Field; and 

* entering the regulatory/permitting activities phase and progressing the engineering for the Greater Moose's Tooth Unit in the National Petroleum Reserve-Alaska (NPR-A). 

 

"These are some examples of the activities ConocoPhillips plans to kick off in the near future to help bring new investments and produce more oil from legacy and satellite fields," said Trond-Erik Johansen, president of ConocoPhillips Alaska. "The new oil tax bill makes the North Slope a more attractive business environment and should lead to more investment in oil producing projects than we have seen in recent years."

 

Full ADN article here
KTUU story here 
Repsol makes three oil discoveries

 Repsol has completed its winter exploration campaign in Alaska with three new good quality hydrocarbon discoveries, boosting the project to develop the company's reserves in the resource-rich North Slope region. 

 

The Qugruk 1 (Q-1) and Qugruk 6 (Q-6) wells produced two hydrocarbons shows, with encouraging results during production tests. In the Qugruk 3 (Q-3) well, hydrocarbons were identified at multiple levels. Exploration can only be carried out during four months of the year, when the terrain is frozen. Wells Q-1, Q-3 and Q-6 reached depths of 2,493 meters, 3,214 meters and 2,637 meters, respectively. 

  

According to Repsol, recent tax reform passed in Alaska was a critical factor in ensuring the development of this project, where extreme climate conditions and geographical remoteness result in high operating costs. 

  
Alaska Business Week looking for a few good teens

 

Alaska Business Week 2013 is quickly approaching and we are looking for a few good teens. 

 

The weeklong camp teaches Alaskan teens the principles of private sector business and helps grow our future business leaders, entrepreneurs and pro-business citizens. 

 

We are challenging you to help create a network of young people who understand life in the world of business. We're asking you to identify your community's future employers, managers and executives. 

 

Please take a moment to investigate the program and call or write with questions about how to kick start Alaska's future business professionals.

 

Visit Alaska Business Week or contact Andy Rogers at arogers@alaskachamber.com or 907.278.2732 for more information.

Alaska Chamber Fall Conference Date Change

Due to scheduling and venue conflicts the 2013 Alaska Chamber Annual Fall Conference and Policy Forum dates have been changed.

 

-Mark Your Calendars-

 

Annual Fall Conference
October 15th
Fairbanks, AK
 
Legislative Policy Forum
October 16th
Fairbanks, AK
 
See you there!
 
Alaska Chamber finds success this session 

Twenty-five bills, with the support of the Alaska Chamber, passed in the first session of the 28th legislature.

 

Covering pro-business topics from oil tax reform to public procurement and income taxes, these bills were the focus of the Chamber's tireless efforts this session.

 

Along with its sister organizations and many Alaska citizens a pro-business agenda was put forth and ultimately adopted.

 

As we look forward towards next session there are many more issues that need to be addressed. These issues as well as legislative successes are available on the Alaska Chamber "bills to watch."

 

Every session, the Alaska Chamber creates this list to help members, elected officials and the public follow legislation important to the business community.

 

In addition to providing bill, committee and sponsor information, the list includes the Alaska Chamber's position on the proposed legislation and whether the Chamber supports or opposes it.

 BillstoWatch

The page is regularly updated and can be found on the AlaskaChamber.com site under Bills To Watch

 

Press release available here

 

Alaska Chamber members head to  the Pacific Northwest next week 

  

Thirty-five Alaska Chamber members will travel to the Pacific Northwest next week for the biennial PNW Outreach Trip. They will meet their PNW counterparts and their fellow Alaska Chamber members during a fun and informational trip.

 

Event Highlights

Tuesday, April 30

Business Week Overview


Tacoma Rainiers vs. Tucson Padres Game


Wednesday, May 1

Regional Access Mobility Partnership Meeting

 

Tour Tacoma Chamber Companies and Tacoma Industry Sites


LeMay - America's Car Museum Tour


Mariners V. Orioles Game

 


Thursday, May 2

Seattle Chamber Alaska Committee Breakfast

 

Business Driven STEM Education Overview


Worker's Compensation Issues Presented by Gary Strannigan


Vigor Shipyards Tour

 

Full Agenda

 

 
The business of clean energy - a REAP production

Join state leaders and top clean energy experts from across the globe on May 2-3 for days of workshops, discussions, and exhibits on the tremendous economic opportunities in Alaska related to renewable energy and energy efficiency.  

 

Click HERE to view the draft conference agenda and panel descriptions.

 

Visit the conference website or contact REAP at 907.929.7770 for more information.

 

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