Related infrastructure would include a production facility and pipelines, Repsol said in a statement. Fourth quarter sales volumes were higher than the prior quarter primarily due to inclusion of the Oil Search assets from 11 December 2021 (1.5 mmboe) combined with timing of crude oil liftings, partially offset by lower Cooper Basin third-party oil volumes. 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. 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. Activate your Online Access Now Article content The additional time will allow further value engineering and optimisation of the development to take place, with a focus on reducing the break-even of the project, and the integration of the results of the Mitquq and Stirrup wells.If you are a Home delivery print subscriber, unlimited online access is included in your subscription. Oil Search has begun front-end engineering and design (FEED) stage for Phase 1 of its Pikka oil development on the North Slope of Alaska. Wulff added: "As previously announced, given current market conditions, Oil Search has decided to delay the Final Investment Decision date for the Pikka Unit Development. We now have a strong understanding of the geology and potential productivity of the prolific Nanushuk play that underlies our portfolio of leases on the North Slope, which could add substantial resource and value to the Pikka Unit Development." We also discovered high quality oil in a deeper reservoir at Mitquq which was not tested. ![]() Keiran Wulff, Oil Search’s managing director, said: “We are very encouraged by the success of our 2019/20 Alaskan exploration programme, with oil discovered in all three penetrations, at Mitquq 1, Mitquq 1 ST1 and Stirrup, and excellent flow rates achieved in the two well tests. Pikka was acquired as part of the acquisition of fellow listed Oil Search last year. Oil Search said that the two Mitquq (Mitquq 1 and Mitquq 1 ST1) and Stirrup 1 oil discoveries, together with the Mitquq 1 ST1 and Stirrup well tests, have provided valuable information regarding the geology and well productivity of the Nanushuk play in the areas to the east and south west of the Pikka Unit. Oil and gas major Santos is weighing the development options for the Pikka oil project, in Alaska. MELBOURNE, April 21 (Reuters) - ConocoPhillips (COP. ![]() On test, the well flowed at a stabilised rate of 1,730 barrels of oil per day (bopd) from a single stimulated zone. ![]() ![]() Mitquq 1 ST1, a sidetrack from the Mitquq 1 oil discovery, located nine kilometres east of the proposed central processing facility of the Pikka Unit Development, encountered a net pay zone of 52.5 metres (172 feet) with a gas cap of 9 metres (29 feet). Australia-listed company Oil Search has announced that testing of the Nanushuk reservoirs in Alaska encountered in the Mitquq 1 ST1 and the Stirrup 1 wells has been completed.
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