In 2024, ConocoPhillips has already invested more than $2 billion in Alaska projects, with two months to go, surpassing 2023’s total capital expenditures.
In the third quarter of 2024 alone, ConocoPhillips Alaska invested $691 million in capital in Alaska.
“Continued progress on projects like Willow and Nuna, along with our agreement to acquire certain Chevron oil and gas assets in Alaska, underscores our commitment to Alaska and demonstrates the effectiveness of the stable fiscal regime,” said Erec Isaacson, president of ConocoPhillips Alaska.
The investment creates jobs and promotes economic opportunities for Alaskans, Isaacson added.
Since 2007, ConocoPhillips Alaska has incurred approximately $45 billion in taxes and royalties to the State of Alaska and the federal government. Of that amount, about $35 billion went directly to the state. In that same period, ConocoPhillips Alaska’s earnings were over $27 billion.
ConocoPhillips Alaska reported a net income of $267 million in the third quarter of 2024.
During the third quarter, ConocoPhillips Alaska incurred an estimated $341 million in taxes and royalties, which includes $251 million to the State of Alaska and $90 million to the federal government.
