This form creates an Area of Mutual Interest ( AMI ) comprising the Contract Area. During the term of this AMI, if any Party acquires all or any interest in any Oil and Gas Leases, any mineral interest, or any farmouts or other contracts which affect lands and minerals lying within the AMI, the Acquiring Party shall promptly advise each of the other Parties of the acquisition, at which time each Offeree shall have the right to acquire its proportionate interest in the Oil and Gas Interest.
Alaska Area of Mutual Interest
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Multi-State
Control #:
US-OG-695
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Word;
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FAQ
One of the most productive areas in the world for oil remains rich in the resource, ing to the latest USGS assessment. The USGS estimates 3.6 billion barrels of oil and 8.9 trillion cubic feet of natural gas conventional resources in Alaska's Central North Slope.
In 1980, Congress passed the Alaska National Interest Lands Conservation Act (ANILCA) designating more than 100 million acres of federal land in Alaska as new or expanded conservation system units.
The oil and gas industry is the largest component of Alaska's economy. Nearly 85 percent of the state budget is supplied by oil revenues.
Its industrial outputs are crude petroleum, natural gas, coal, gold, precious metals, zinc and other mining, seafood processing, timber and wood products. There is also a growing service and tourism sector. Tourists have contributed to the economy by supporting local lodging.
Top 5 Commodities Greenhouse/nursery. Hay. Cattle and calves. Potatoes. Dairy Products.
Yearly Exports In 2022 the top exports of Alaska were Zinc ores and concentrates ($1.45B), Gold in unwrought forms non-monetary ($636M), Fish meat, excluding fillets, whether or... ($371M), Lead ores and concentrates ($362M), and Fish: frozen, n.e.c. in heading 0303,...
Most of the oil produced in Alaska is sent to refineries in Washington and California. Tankers transport most of the oil produced in Alaska to refineries in Washington and California.
Major sectors by employment in Alaska include Healthcare and Social Assistance, Retail Trade and Information, which employed 56,322, 41,099 and 31,036 people in 2022, respectively.