The Greater Prudhoe Area is made up of the Prudhoe Bay Field, the Prudhoe Bay satellite fields and the Greater Point McIntyre Area fields. After more than 35 years of production, Prudhoe Bay remains the largest oil field in North America and ranks among the 20 largest fields ever discovered worldwide. When production started at the Prudhoe Bay field, the recovery factor for the 25 billion barrels of oil in place was expected to reach 40 percent. Today, using new technologies, we have increased that estimate to more than 60 percent. Drilling is expected to continue for many years.
In 2012, ConocoPhillips’ net production at Prudhoe Bay averaged 105,000 barrels of oil equivalent per day (MBOED). Prudhoe Bay also contains about 35 trillion cubic feet of natural gas, and ConocoPhillips continues to work on opportunities to develop and commercialize that resource.