Arco Moves Ahead on Alaska Development: Atlantic...
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From Times Staff and Wire Reports
Arco Moves Ahead on Alaska Development: Atlantic Richfield Co. said its board has approved development of the Point McIntyre oil field on Alaska’s North Slope. The board approved Arco’s share--anticipated at 30% to 40%--of the estimated $727-million cost of the development. The project must be approved by the field’s co-owners, Exxon Co. USA and BP Exploration (Alaska). Arco said production at the field, situated two miles north of the massive Prudhoe Bay field, is expected to begin by late 1992.
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