The Inupiat owned Arctic Slope Regional Corporation entered into a “mentoring” agreement with BP Exploration (Alaska) Inc., one of the largest oil and gas companies in the world. The ASRC hopes that the agreement will help them expand from an exploration and development company into a competitive independent oil producer, which would create jobs close to home for its native shareholders. Though no specific deals have been worked out yet, the companies hope to have potential projects identified by this fall.
