NEW DIVESTITURE OF PRODUCTION AND ACREAGE PROVISIONS
At least 250,000 acres of undeveloped State leases must be divested to the company or companies that acquire production and the right to operate at Alpine and Kuparuk.
BP must now divest at least 50.01% of Kuparuk, rather than 40%.
BP must now divest at least 50.01% of a section of NPRA, rather than 40%, to the new operator at Alpine or Kuparuk.

NEW ENVIRONMENTAL PROVISIONS
The revised Charter:
Establishes a floor, not a ceiling, of $10 million to be spent cleaning up orphan sites.
Establishes a floor, not a ceiling, of $5 million to be spent on extra orphan site clean-up, spill research, or corrosion experts as requested by the Alaska Department of Environmental Conservation.
Requires BP and ARCO to repudiate any trade association effort to weaken Oil Pollution Act of 1990 (OPA 90) standards.
Requires BP and ARCO to continue to support the ship escort response vessel system in Prince William Sound.
Requires BP to report annually on environmental issues.
Makes BP and ARCO's environmental funding commitments enforceable in a court of law.

ENTIRELY NEW GAS PROVISION

The price target provision has been removed and replaced with the concept of "fair market price."
BP is required to negotiate in good faith with the newly established Port Authority, Yukon Pacific Corporation, and any other company or group that proposes to build a qualified gas treatment and transmission project, to determine a fair market price or transportation charge for the gas, in sufficient quantities to support the project.

OTHER SIGNIFICANT CHANGES

Proprietary seismic and well data developed before 1975 will be made available to the public at no charge.
Facilities access provision has been broadened and clarified.
Purchases from smaller producers increased from 25,000 barrels per day to 30,000 barrels per day.
Termination date of 2008 has been removed.
A new provision has been added that clarifies that nothing in the Charter relieves BP or ARCO of any obligations under any State or federal laws or regulations.

NEW PROVISIONS ON TOP OF THE CONCESSIONS OBTAINED IN THE ORIGINAL CHARTER

At least 175,000 barrels a day of production will be divested to other companies.
There will be new operators for Kuparuk and Alpine.
One of the new operators of Kuparuk or Alpine will gain leases on at least 100,000 acres in the NPRA.
At least 220,000 acres of NPRA leases and at least 400,000 acres of states leases will be sold to other companies.
The draft Charter adds two new exploration operators on the North Slope.
Any company seeking to explore the North Slope will have timely access to BP Amoco's and ARCO's proprietary seismic data.
Minor producers on the North Slope will have guaranteed access to market for their production.
Owners of satellite fields have the right to take BP into binding arbitration if they are denied access to production or other lease facilities.
The new operators of Kuparuk and Alpine will receive shares of TAPS and all relevant intermediate pipelines.
Other producers on the North Slope will have an opportunity to purchase a share of TAPS.
BP and ARCO will be required to offer any surplus marine tankers to other North Slope producers.