BP (BP), ConocoPhillips (COP) Capex in Alaska Level in 2011

BP (NYSE:BP) and ConocoPhillips (NYSE:COP) said their capex in Alaska will probably be level in 2011.

While there is a possibility ConocoPhillips could spend up to $170 million more than in 2010, spokeswoman Natalie Lowman said there were several contingencies connected to that, including a more favorable state tax structure.

ConocoPhillips has set aside $900 million for Alaska for potential spend.

BP spend approximately $800 million in Alaska in 2010, and said they plan on spending about the same in 2011.

The more business-friendly Republican Governor Sean Parnell has proposed cutting taxes on oil production in order to generate more investment in the state.