About 183,200 acres relinquished since a 2002 lease sale will also be reoffered to energy companies.
The reserve is estimated to hold between 5.9 billion and 13.2 billion barrels of recoverable oil and 39 trillion to 83 trillion cubic feet of natural gas. Two billion barrels of oil may be around Teshekpuk Lake alone.
"This is a significant amount of oil that will help decrease our dependence on imported oil," said BLM Acting Alaska Director Julia Dougan.
The United States consumes close to 21 million barrels of oil a day and must import 60 percent of that amount.
Source Reuters