Story Created:
Jun 18, 2008 at 12:41 PM AKDT
Story Updated:
Jun 18, 2008 at 1:29 PM AKDT
Testimony on the development of oil and gas reserves at Point Thomson were heard by lawmakers on Tuesday. The accuracy of geologic studies presented by the state were drawn into question, revealing concerns that lawmakers may have over making a decision on a natural gas pipeline with what is consider to be incomplete data.
Data provided by Exxon Mobil Corp. makes up the basis of pipeline study. However the data is not complete and 20 years old.
Typically drilling studies cost tens of millions of dollars to conduct due to drilling and other expenses. Oil companies make up most of the few organizations that can afford to pay for such operations.
PetroTel Inc., an energy consultancy out of Dallas, was hired by the state to conduct an evaluation of the Exxon data. Anil Chopra, the president and CEO of PetroTel Inc., said the company did as well as they could given the information.
The testimony was part of a 60-day special session called by Governor Palin to convince the Legislature that TransCanada Corp. should be awarded a license to build a pipeline to transport Alaska's natural gas to various markets across North America.
Point Thomson, is reported to hold large stores of natural gas and is considered to be a crucial piece of the gas pipeline plan.
