ASRC, NORTH SLOPE VILLAGE CORPORATIONS AND SHELL ANNOUNCE HISTORIC VENTURE
ASRC PRESS RELEASE 7/31/2014
Anchorage – – In a ground-breaking announcement today, Arctic Slope Regional Corporation (ASRC) and six (6) North Slope village corporations have joined together to create a new company known as the Arctic Inupiat Offshore, LLC (AIO). AIO and Shell Gulf of Mexico Inc. (Shell) have entered into a binding agreement that will allow AIO the option to acquire an interest in Shell’s acreage and activities on its Chukchi Sea leases. This interest will be managed by AIO.
AIO members include ASRC, Ukpeaġik Inupiat Corporation, Tikigaq Corporation, Olgoonik Corporation, Kaktovik Inupiat Corporation, Atqasuk Corporation and Nunamiut Corporation. These corporations represent the communities of Barrow, Point Hope, Wainwright, Kaktovik, Atqasuk and Anaktuvuk Pass.