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Biggest Onshore Oil Discovery in Alaska in Three Decades

  • Repsol and Armstrong Energy have announced that they have made biggest onsite oil discovery of three decades in Alaska. Discovery was done in North Slope of Alaska, where production is expected to start by 2021. It is expected that a maximum of 120,000 barrels of oil can be produced per day. The oil resource discovered is located in a well called Horseshoe, whose 75 per cent ownership is held by Armstrong Energy and 25 per cent by Spanish oil giant Repsol.