ExxonMobil’s Point Thomson project is approximately 60 miles east of Prudhoe Bay.
Exxon has been a major player in Alaska since the dawn of the state’s oil industry. It has a stake in some of the largest oilfields in Alaska, including Prudhoe Bay and Kuparuk, as well as Point Thomson. Exxon also owns a 21% share in the Trans-Alaska Pipeline. “I think it shows that oil companies are losing interest in the Arctic and recognizing that it’s a bad investment and it’s bad business,” said Tim Woody, a spokesman for The Wilderness Society in Alaska.
Kara Moriarty, president of the Alaska Oil and Gas Association, said Exxon’s statement does not indicate any change in the company’s strategy for the region.
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