Milne Point, North Slope Alaska, contains in excess of 2 billion barrels original oil in place (OOIP) in the shallow, Late Cretaceous, Schrader Bluff Formation. This resource is part of a larger accumulation in excess of 26 billion barrels OOIP overlying many of the deeper producing fields. A small waterflood pilot presently produces 3300 barrels of oil per day (BOPD) of 19 API oil from 2650 acres in Milne Point. Initial average well productivity's of 350 BOPD, low by North Slope standards, coupled with current cost, performance, and fiscal conditions, render the resource uneconomic. A multi-pronged approach dealing with well productivity, drilling and facility costs, and development incentives is underway to save this resource from abandonment. Technological and contractual innovations are considered keys to success. Which keys fit the lock will determine the development of billions of barrels of recoverable oil.

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