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The best we can say now is that 2001 – 2002 oil production was about flat – possibly slightly up; the 2002 numbers will be revised in mid-year. This is good news, since US crude and condensate production has fallen for the previous nine consecutive years, but only minimally during the last three years.
Alaskan oil production stopped its relentless fall, and has leveled off at roughly a million barrels a day. Even after revision, it may show an increase for 2002. The reasons are further efforts at enhanced recovery such as at Milne Point. Also helping was production at Aurora and Borealis, two of five Prudhoe Bay satellite fields, plus about 65,000 bopd from Northstar – which includes the first federal offshore Alaskan production. Northstar came onstream near year-end 2001.
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Houston, TX - November 4-5
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