Pikka, new North Slope oil field, gets companies’ investment OK, means hundreds of jobs

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Oil companies Santos and Repsol have announced they will move forward with Phase 1 of the Pikka project on Alaska’s North Slope.

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. First oil could be realized in 2026.

Santos, which acquired Oil Search, has a 51% interest in the project and will invest $2.6 billion to bring the Nanushuk-area field into production, which will require employing 2,600 workers during construction, and 500 jobs once oil production begins.  

Santos of Papua New Guinea, is one of the leading independent oil and gas producers in the Asia-Pacific region, focused on Australia, Asia, and Alaska. It acquired Oil Search last year. Repsol is a Spain-based company that holds an interest in approximately 195,256 net acres on the North Slope.

Gov. Mike Dunleavy applauded the news: “This announcement will continue the renaissance on Alaska’s North Slope. Americans are paying sky-high energy prices right now – but it doesn’t have to be that way. Alaska has the resources and environmental safeguards in place to meet America’s energy needs today and for decades to come.”  

Around 75% of the projected budget will be with companies operating in Alaska, and contracts are expected to be awarded this week.

12 COMMENTS

      • I think it is going to show up in her ads, and on her website.
        “Getting energy jobs for Alaskans!”
        Even though Deb Haaland is going to shut it down by December 1.

    • Most of these foreign companies have never been on the US fed teat, so the Biden cartel can’t threaten them with cutting off fed funds.
      Expect more foreign companies up here because our domestic companies are too dependent on, and too controlled by fed largess.

    • This project, Nanushuk/Pikka, was started by an American wild-catter–Bill Armstrong. Mr. Armstrong’s small company proved the discovery and sold it, and it has been caught up in subsequent sales and acquisitions. Oil is a global commodity and there are many large operators throughout the world, with most pursuing diversification of projects. It’s just capitalism. Oh, and the two largest operators on the North Slope are American companies: ConocoPhillips and Hillcorp. This is basic Alaska knowledge.

  1. Can someone please tell me why people are still voting for Murkowski, I honestly can find nothing positive about her, her platform, and her record☹️

    • Looking at the primary election results, I see a LOT of democrats are voting Murkowski. At least in the primaries.
      Plus, a LOT of people just vote for the incumbent. They do not pay enough attention to politics, so they just vote for whomever currently holds the seat.

  2. How did we keep this one below the bidenistas’ radar? Learn folks – we’re going to need this technique…

  3. It’s good to see but why only foreign firms? Will the US see any of this or will it all be shipped off? Just like the foreign owners of much of our farmland. The crops will be grown, but probably shipped off.

    • This project, Nanushuk/Pikka, was started by an American wild-catter–Bill Armstrong. Mr. Armstrong’s small company proved the discovery and sold it, and it has been caught up in subsequent sales and acquisitions. Oil is a global commodity and there are many large operators throughout the world, with most pursuing diversification of projects. It’s just capitalism. Oh, and the two largest operators on the North Slope are American companies: ConocoPhillips and Hillcorp. This is basic Alaska knowledge.

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