U.S. government to auction Alaska oil and gas exploration rights
Published January 3rd, 2008
The US government announced it will auction oil and gas exploration rights on the outer continental shelf off of Alaska on February 6.
The Minerals Management Service (MMS) said it will be its first oil and gas lease sale in the Chukchi Sea since 1991.
The Chukchi Sea, between Alaska and Siberia, is considered one of the last areas in North America with potential for a significant source for oil and gas. The MMS estimates that the area could contain as much as 15 billion barrels of oil
