Arctic Slope Regional Corporation Makes New Push for Oil-Tax Reform
With less than a week to go until the general election, ASRC is making another push for substantive oil-tax reform in Alaska and is highlighting the importance of a robust and sustainable oil and gas industry in Alaska in a new series of advertisements. The online ads began appearing in various sites last week, and will run through November 6.
“We’re making the case that it is Alaska’s oil, but it’s also our future,” said Tara Sweeney, ASRC senior vice president of external affairs. “Billions of barrels of recoverable oil remain in the North Slope legacy fields, but it will take a substantial investment for the producers to reach it. Right now, unreasonably high tax rates on the Slope’s oil production are creating an atmosphere that doesn’t allow for that.”
For ASRC Energy Services, Inc., the impact of Alaska’s Clear and Equitable Share, or ACES, is being felt across the company. At its peak, AES’ fabrication shop in South Anchorage employed more than 200 workers. Now, 5 years after the passage of ACES, that number is down to around 30. AES is the largest oilfield service provider in the state, and is a subsidiary of Arctic Slope Regional Corporation.
Jeff Kinneeveauk, AES president and CEO, added, “Like we’ve been saying for several years now – every day that passes without meaningful reform means we’re losing additional time, work and employees. Even worse, it’s a picture that is being shared by other service providers in the state of Alaska as well.”
Arctic Slope Regional Corporation is owned by and represents the business interests of the Arctic Slope Iñupiat. Since opening enrollment in 1989 to Alaska Natives born after 1971, the corporation’s shareholder base has nearly tripled, growing from the 3,700 original enrollees to around 11,000 today. Corporate headquarters are based in Barrow, Alaska, with administrative and subsidiary offices located in Anchorage and throughout the United States. ASRC, along with its family of companies, is the largest Alaskan-owned company, employing approximately 10,000 people worldwide. The company has five major business segments: petroleum refining and marketing, energy support services, construction, government services and resource development.