Alaska is great for ENI. Why not for the big three?

January 28, 2008 5:30 AM - Posted by Myrl Thompson 
The Italian oil giant Eni will invest $1.45 billion developing the Nikaitchuq oil field.

Eni expects to drill 70 wells to recover 180 million barrels of oil. Governor Palin states, "Continued oil and gas exploration is significant to Alaska's future, creating real jobs for Alaskans. We look forward to a long and successful relationship with Eni."

Why do new companies like Eni, Trans-Canada and smaller independents seems to see Alaska as a great place to do oil and gas business, while the Big Three, with all their infrastructure, want to cut their investments.

Are the Big Three trying to make a power play, hoping Alaskans will give in to their demands? Has Exxon, Conoco and BP just becomes too greedy for their own good?