![]() ![]() Pikka Phase 1 includes a single drill site, an oil processing facility, and other infrastructure to support production of 80,000 barrels of oil per day. We're on track to deliver first oil in 2026. Related infrastructure would include a production facility and pipelines, Repsol said in a statement.įor copyright information, check with the distributor of this item, Anchorage Daily News. We're working to deliver Pikka Phase 1, one of the lowest-cost and lowest unabated emissions intensity new oil projects globally. The companies said they would make efforts to offset and reduce fossil-fuel emissions, including through use of natural gas instead of diesel fuel during operations.įully developing the first phase will involve drilling 45 wells from a single well pad. Mike Dunleavy said it “will continue the renaissance on Alaska’s North Slope.” ![]() Lisa Murkowski and Dan Sullivan lauded the plans for the Pikka project. Development could also generate billions of dollars in state and local tax revenue, primarily through royalties to the state.Īnother major North Slope oil prospect, ConocoPhillips' Willow project, has been delayed by litigation and a new environmental review.Īlaska U.S. If developed, the field on state land east of the National Petroleum Reserve-Alaska could significantly boost the flow of oil through the trans-Alaska pipeline system. Brooklyn and her various majesties Thinking about the decoy effect, jln.hckngr and. Santos, in a statement, said the funds will cover the initial phase of development at the Pikka field, with 80,000 barrels of oil daily expected to begin flowing in 2026. Santos last year acquired Oil Search of Papua New Guinea, which had been working to advance the project. The Pikka unit contains an estimated 768 million barrels of recoverable oil, which could add 80,000 barrels of oil to the Trans-Alaska Pipeline System. Pikka lies west of the central North Slope region, close to ConocoPhillips’ producing Kuparuk unit, and will be the first to produce from the Nanushuk formation. Santos has a 51% stake in the Pikka project, and the company said Tuesday that its investment will be $1.3 billion. Aug12 Oil companies Santos and Repsol have announced they will move forward with Phase 1 of the Pikka project on Alaska’s North Slope. ANCHORAGE, Alaska (AP) - Two oil and gas companies have announced plans to invest $2.6 billion into developing a major oil field on Alaska's North Slope.Īustralia-based Santos and Spain-based Repsol made the announcement, which was lauded by state political leaders, the Anchorage Daily News reported. ![]()
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