ANCHORAGE, Alaska (KTUU) – First oil flowed from Pikka Sunday, according to an announcement from operator Santos, marking a major milestone in one of the newest projects on Alaska’s North Slope.
Sunday’s announcement said that the oil is from the Pikka phase 1 development, which will ramp up to 20,000 barrels per day over the next few weeks. As of first oil, 28 development wells are drilled, according to Santos, who owns 51 percent interest in Pikka while Repsol holds the other 49 percent.
“As we now take Pikka phase 1 into operations, we are transitioning from project execution to our disciplined, low-cost operating model which will maximise the project’s value for our shareholders for the long term,” wrote Santos Managing Director and Chief Executive Officer Kevin Gallagher in the announcement…