Governor Knowles' Conditions on BP-Amoco's Acquisition of ARCO

In evaluating BP-Amoco's proposed acquisition of ARCO, Gov. Knowles set the goals of continued competition of Alaska's North Slope Oil fields and a continued corporate commitment to Alaska communities and families. To reach these goals, Gov. Knowles established seven specific conditions:

1) Divestiture of sufficient North Slope production and leases to guarantee another oil company operator in production and exploration;

2) Open access to oil production and transportation facilities;

3) Reduction of the existing tariff of the trans-Alaska oil pipeline so it is not a barrier to a non-owner company from using that line;

4) Access to Alaska's natural gas resources for development;

5) Continued support for Alaska hire and use of Alaska businesses;

6) Protecting the environment including completion of the new Millennium-class of double-hulled tankers; and assessment and continuing clean up of contaminated sites;

7) Continued support for important community and civic causes.


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