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Agency accepts winning bids in NPR-A lease sale

Posted: Tuesday, September 24, 2002

ANCHORAGE (AP) -- The Bureau of Land Management team looking at the National Petroleum Reserve-Alaska lease sale held June 3 has accepted all the winning bids.

Six companies with the winning bids will have their leases awarded by Oct. 1, the federal agency said Monday.

Bidders will pay the BLM nearly $2 million for the first year's lease rentals, plus an additional nearly $64 million in bonus bids. The money will be split evenly between the state of Alaska and the U.S. Treasury, probably in April.

A French company, TotalFinaElk SA, was the biggest bidder in the June sale. TotalFinaElf spent nearly $53 million, or 83 percent of the total winning bids.

Phillips Alaska, in partnership with Anadarko Petroleum, had winning bids on 34 of the 39 tracts it wanted. The company spent $9.6 million dollars.

BP, which did not submit any bids, said it is concentrating on its current Alaska fields rather than exploring for new ones.

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