The Alaska Risk Assessment (ARA) has reached an important milestone. The National Academy of Science (NAS) has issued its Peer Review of the Proposed Methodology. The State Agency Oversight Team (SAOT) is reviewing the Peer Review and comments received from industry, the public and state and federal agencies. The next step is to weigh the different points of view and decide what revisions in the methodology are needed to provide the most useful product and enhance the State’s ability to manage and oversee the oil and gas industry.

The Alaska Risk Assessment is a work in progress. Over the next few weeks the SAOT will be considering the conclusions and recommendations made by the NAS and determining the best way forward. Reliability of the oil and gas industry is critically important to the state. The SAOT and the ARA must take the time needed to give thorough consideration to the public and NAS comments. Following this review, changes or adjustments to the methodology will be made.

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The ARA is evaluating the ability to operate Alaska’s oil and gas infrastructure safely for another generation. This engineering-oriented assessment will report on the status of the existing infrastructure, components, and systems.  The ARA will identify and rank risks based on consequences to State revenue, safety, and the environment.

Governor Palin announced this three-year, $5 million initiative in May 2007. The input of state and federal agencies, local government, industry, environmental groups, and the public will be actively sought and incorporated at key points throughout the project. The Proposed Risk Assessment Methodology was published on March 20, 2009 and was available for public review until June 2, 2009. In addition, the methodology is being reviewed by a peer-review panel from the National Academy of Sciences.