Background
ASRC Federal is a wholly owned subsidiary of Arctic Slope Regional Corporation, an Alaska Native corporation owned by approximately 11,000 Iñupiat shareholders. Our shareholders use the earnings from our company to help develop and sustain their villages and the Iñupiat way of life.
Arctic Slope Regional Corporation
ASRC is the largest Alaskan-owned and -operated company. Corporate headquarters are based in Barrow, Alaska, with administrative and subsidiary offices located in Anchorage and throughout the U.S. The company operates five major business segments:
- Petroleum refining and marketing
- Government technical services
- Energy services
- Construction
- Resource development
Through deliberate investments, positive operating developments and an ongoing focus on cost control and efficiency, each of ASRC’s business segments continues to grow.
ASRC History
ASRC was established in 1972 after Congress passed the Alaska Native Claims Settlement Act of 1971. As a result of its land entitlement under the congressional act, ASRC owns nearly five million acres on Alaska’s North Slope—the largest hydrocarbon province in North America. ASRC’s subsurface estate was selected for its natural resource potential. ASRC has a significant royalty position in the Alpine oilfield, one of the largest on the North Slope. Other ASRC lands are being actively explored for oil and gas by major oil companies. ASRC also owns significant deposits of high-quality coal on the North Slope and selectively participates as a working-interest partner with industry players in exploration projects on and off its lands.
From humble beginnings and a time when the corporation’s leaders worked for no pay, ASRC has grown and diversified. The company is poised for the next era of growth with continued dedication to provide maximum benefit to our shareholders.