Inside Alaska Business
BP | Hilcorp
BP has agreed to sell its entire business in Alaska to Hilcorp Alaska. Under the terms of the agreement, Hilcorp will purchase all of BP’s interests in the state for a total consideration of $5.6 billion. The sale will include BP’s entire upstream and midstream business in the state, including BP Exploration (Alaska) Inc., that owns all of BP’s upstream oil and gas interests in Alaska, and BP Pipelines (Alaska) Inc.’s interest in the Trans Alaska Pipeline System (TAPS). Subject to state and federal regulatory approval, the transaction is expected to be completed in 2020.

Approximately 1,600 employees are currently associated with BP’s Alaska business and BP is committed to providing clarity about their future as soon as possible as part of the transition process with Hilcorp.

Hilcorp has been operating in Alaska since 2012 and is today the largest private oil and gas operator in the state, currently operating more than 75,000 barrels of oil equivalent a day gross production. |

Anchorage Fracture & Orthopedic Clinic
Anchorage Fracture & Orthopedic Clinic has opened a new Eagle River clinic. In addition to specialized bone, joint, and muscle care and consultation, this new location also offers orthopedic urgent care; onsite X-ray imaging; and physical therapy.
Anchorage Mayor Ethan Berkowitz unveiled the city’s largest solar project to date, the installation of 216 solar panels on top of the Egan Center in Anchorage. With an expected lifespan of thirty years, this project is expected to save $21,000 in electricity costs in the first year and nearly $700,000 during its lifetime.

This $200,000 project was paid for out of the Convention Center Capital Reserve Fund, a pool of money reserved for capital improvements from the Convention Center Room Tax Fund. This is the largest rooftop solar array in Alaska. The expected payback on the project is about seven years.

The Igiugig Village Council and ORPC celebrated the launch of ORPC’s commercial RivGen Power System, a sustainable solution now available to remote river communities in Alaska and worldwide.

ORPC’s first commercial device is a 40 kW power system that will provide up to one-half of the Igiugig community’s electricity needs annually and will reduce the use of expensive and environmentally risky diesel fuel. Plans are underway for installation of a second RivGen device in conjunction with smart microgrid electronics and energy storage. When completed, the system will reduce diesel usage by 90 percent. The Igiugig Village Council is the first tribal entity in the United States to be issued a FERC hydrokinetic pilot project license.

Global investment firm The Carlyle Group and private equity firm Stellex Capital Management announced a definitive agreement to acquire and merge Vigor Industrial, an infrastructure, defense, and maritime services company based in Portland, Oregon, and MHI Holdings, a ship repair, maintenance, and other ship husbandry services company based in Norfolk, Virginia. The combined company will create a bicoastal leader in critical ship repair services and commercial and defense-related fabrication services. Key customers include the US Navy, US Coast Guard, Military Sealift Command, Boeing, cruise lines, fishing fleets, barges and ferry services for local and state governments, and other key commercial and defense customers. | |
The Anchorage Police Department began operating out of its new headquarters located at 716 West Fourth Avenue in late August. The former location on Elmore will be closed to the public. The front counter, operated by the records staff, is open 8 a.m. to 6 p.m. Monday through Friday.
Crowley Fuels has signed construction contracts to build a 55,000-barrel, articulated tug-barge (ATB) that is specifically designed to serve the Western Alaska market with delivery of clean fuel products. The 410-foot ATB will have enhanced performance features for the demanding river and sea conditions of Western Alaska, an area that depends on safe and reliable marine delivery services during the short open-water season. The ATB design was completed by Crowley Maritime subsidiary Jensen Maritime, a Seattle-based naval architecture and marine engineering firm. It’s expected to be delivered in January 2021.
The University of Alaska Fairbanks has received a five-year, $19.6 million National Institutes of Health grant to build capacity and increase diversity of students in biomedical research. The new grant builds interdisciplinary collaborations following a One Health approach, which investigates the health of people, animals, and their shared environment in Alaska.