LNG

Hilcorp Energy of the US, a major operator on Alaska's North Slope after the departure of UK major BP from the state, is now set to take over operations of the largest natural gas field run by ExxonMobil Corp. and which would underpin any future Alaska LNG export project.

UK major BP confirmed its commitment to completing the sale of its Alaska business to Hilcorp Energy of the US for the original price of $5.6 billion despite the industry downturn, including the North Slope feed gas resources for the Alaska LNG export project and Prudhoe Bay oil.