Alaskan Oil production is expected to decrease by 30,000 bbl/d in 2005 and by 20,000 bbl/d in 2006, to 860,000 bbl/d. This continues a steady decline since the state's peak output of 2.02 million bbl/d in 1988. For the period January-August 2005, Alaska averaged production of about 872,000 bbl/d of oil, or about 16 percent of total U.S. Crude Oil production.

Over 400,000 bbl/d of Alaska's oil output comes from the giant Prudhoe Bay Field (major producers include BP, ExxonMobil, and ConocoPhillips), and is transported via the 800-mile Alyeska (Trans-Alaska) Pipeline. An oilfield known as Alpine, owned 78 percent by ConocoPhillips and 22 percent by Anadarko, began production in November 2000.

Alpine represents one of the largest North American onshore oil discoveries in years, producing around 63,000 bbl/d of high quality, light crude oil in 2004. Production at Alpine is to be maintained using tie-ins to the Nanuq and Fiord satellite fields beginning in late 2006. ConocoPhillips has been the largest oil producer in Alaska since acquiring Arco's Alaska fields in early 2000. The combined crude oil production rate from ConocoPhillips' Greater Kuparak and Western North Slope areas averaged about 156,000 bbl/d in 2004. ConocoPhillips also produced about 142,000 bbl/d at Prudhoe Bay.

In March 2004, the Energy Information Administration (EIA), in response to a Congressional request, issued an analysis of potential oil reserves and production from the Arctic National Wildlife Refuge (ANWR). The report projected that for the mean resource case (10.4 billion barrels technically recoverable, according to the U.S Geological Survey), ANWR peak production rates could range from 0.6 to 1.6 million bbl/d, with initial ANWR production possibly beginning around 2013, and peak production possible around 2024.

Source: Energy Information Administration