Breaking news:  tax settlement improves investment climate!

North Slope Borough and ExxonMobil Alaska Production Inc. Settle Pt. Thomson Tax Appeals

(Barrow, AK)— “Today’s agreement to settle outstanding tax disputes on the valuation of Pt. Thomson development demonstrates another historic milestone for the people of the North Slope Borough,” pronounced Mayor Harry K. Brower, Jr., “Ever since I was sworn into office in July of 2016, one of my key priorities has been to establish partnerships and relationship building with external organizations for economic growth and empowerment in our North Slope communities. This is a perfect example of that. We recognize that ExxonMobil’s success reflects our leadership and support for responsible development for the betterment of our people and our communities.”

The Borough’s Chief Administrative Officer, Forrest “Deano” Olemaun, noted this agreement for the next four years will provide a more stable and predictable budget environment and help ensure the financial security moving forward not only for the Borough but ExxonMobil as well.

“We deeply value our relationship with the North Slope Borough, and look forward to continued collaboration in the future”, said ExxonMobil Alaska Production Manager Cory Quarles. “This serves as an example of how industry and government can work together to enable the fiscal stability that supports local municipalities and provides the foundation for continued investment that benefits all Alaskans.”

“I would like to thank Cory Quarles and the rest of the ExxonMobil staff for their support in seeing this settlement move forward,” said Mayor Brower. “I would also like to recognize Deputy Director of Finance, Fadil Limani for his commitment and hard work contributing to advancing the interests of our people of the North Slope in getting this matter resolved. It is not always the captain who lands the whale, but it also takes the commitment of the crew to bring in the whale and I am thankful for such a crew.”

CONTACT: Fadil Limani, (907) 538-4940, Fadil.Limani@north-slope.org