Gov. Mike Dunleavy on Friday created an eight-member oversight committee to monitor the sale of BP’s Alaska business to Hilcorp, a smaller, private oil company.
“The purpose is to make sure the State of Alaska and its people are represented as this transaction moves forward,” said a statement from the governor’s office announcing the new group.
BP is planning to sell its entire Alaska operation to Hilcorp for $5.6 billion. The deal includes BP’s stakes in the giant Prudhoe Bay oil field and the trans-Alaska pipeline.
The sale still needs to clear several regulatory hurdles.
Related: About half of BP’s Alaska employees have accepted a job with Hilcorp
The new committee will provide Dunleavy with updates as the sale moves forward, including advising him on whether its meeting regulatory requirements, said the statement from the governor’s office.
Department of Natural Resources Commissioner Corri Feige will chair the committee, said Jeff Turner, Dunleavy spokesman. Dunleavy’s senior policy advisor Brett Huber will also serve on the committee. The other six seats will be filled by five state commissioners or their designees, plus the attorney general or his designee.
More information on the group and its schedule “will be announced in the near future,” according to the governor’s office.
Related: Our reporter is trying to learn more about Hilcorp. Can you help?