BP also disclosed in the report that idling Badami -- BP shut down the field in the fall of 2007 -- hasn't worked as hoped to revive reservoir pressure. Badami is the easternmost field to produce oil on the North Slope. BP put Badami on stream in August 1998 with hopes of making 30,000 barrels a day.
Badami soon went bust, making only about 1,400 barrels a day in 2003 when BP mothballed the field. BP restarted Badami in September 2005, then idled it again two years later.
Badami's problem is reservoir compartmentalization -- the oil doesn't flow through producing zones.
Insurance group receives national credential
Wallace Insurance Group in Anchorage has joined the Benefits Advisors Network, a group of independent benefit advisory and consulting companies that leverage their combined size to offer employers more solutions at better prices, Wallace said. To be credentialed for membership, Wallace had to pass a stringent screening process, Wallace said. Wallace provides consulting and insurance brokerage services to Native organizations, and group brokerage and consulting on medical, dental, disability and life insurance to other industries in Alaska.
Alaska delegation announces federal grants
The Alaska congressional delegation recently announced the following business-related federal grants for Alaska:
• $3.45 million to Seldovia to construct a snow-removal-equipment building at the airport.
• $2.2 million to Naknek to buy a crane and two forklifts for use at the town's dock.
• $1.09 million in federal stimulus money to Seward Ship's Drydock Inc. for shipyard improvements.
• $1.5 million to Tuluksak to complete construction of a replacement airport.
• $951,500 to Unalaska to find an accessible commercial grade geothermal resource at Makushin and develop a 10 to 12 megawatt geothermal power plant.
• $650,000 to Cordova to rehabilitate runway lighting for the airport.
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