AIDEA approves $190 million for ANWR seismic surveys and lease evaluation

The Alaska Industrial Development and Export Authority Board approved up to $190 million on May 13 for seismic surveys and evaluation of federal oil and gas lease sale tracts in the Arctic National Wildlife Refuge Coastal Plain. Resolution G26-05 authorizes funds for a 3D seismic program, permitting, regulatory work, cultural and wildlife studies, and stakeholder engagement.

The resolution directs AIDEA to evaluate tracts identified through the Bureau of Land Management's February 2026 Call for Nominations and Comments for the federal lease sale scheduled for June 2026 in the Coastal Plain's 1002 Area.

The investment follows the Biden administration's cancellation of AIDEA's 2020 leases and a December 2024 Record of Decision that AIDEA says makes development economically impossible. AIDEA believes a returning Trump administration will offer new ANWR lease sales.

AIDEA Executive Director Randy Ruaro said the Board has approved nearly $400 million in the last nine months for projects including Alyeschem, ANWR, and Ambler Road. "Our dividend should continue to grow," Ruaro said. "We should be able to create thousands of jobs and keep Alaska growing, heading the right direction."

According to estimates developed during the Biden Administration's ANWR leasing analysis, Coastal Plain development could generate approximately $2 billion annually for Alaska and the Alaska Permanent Fund. The North Slope Borough could receive $49 million per year in revenue, according to Tables C-6, C-7, and C-8 of the Final Supplemental Environmental Impact Statement by the Federal Bureau of Land Management.

Leaders from the Native Village of Kaktovik, Kaktovik Inupiat Corporation, and the City of Kaktovik testified at the May 13 Board meeting supporting responsible development. George Kaleak, President of the Native Village of Kaktovik, said the voice of the Indigenous community within ANWR should be central, not peripheral.

The 2017 Tax Cuts and Jobs Act directed the Secretary of the Interior to establish a competitive oil and gas leasing program for the ANWR coastal plain. The Bureau of Land Management conducted the first lease sale in January 2021, awarding AIDEA seven leases. The Biden administration suspended those leases in June 2021 and later canceled them.