The settlement was with Exxon Mobil Corp. Other interest-owners, including BP and ConocoPhillips, haven't announced whether they'll sign off on it. BP Alaska spokesman Steve Rinehart says BP is working with the state and Exxon to understand the proposed agreement and development project embedded within it. He says BP has yet to reach a conclusion.
Point Thomson is seen as key for a natural gas pipeline project.
Elizabeth Bluemink, communications coordinator for the Department of Natural Resources, says there's "quite a lot of optimism" surrounding the proposed deal. She says the department is confident the process is working toward a resolution.
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