In the recent quarterly report of the Australian company Santos, it announced that the Pikka Project, located on the northern slope of Alaska, is expected to begin producing oil in 2026.
First oil production from the Pikka Project
During the winter months, the project has made notable progress, reaching 47% of its development as of the end of March of this year . This progress includes the completion of operations on seven wells, of which four have been stimulated and three have had successful return of flow.
It has also made progress in constructing the necessary infrastructure, with more than 65% of vertical pipe supports completed and more than 61% of pipe laying completed for winter season goals. In addition, the seawater treatment plant has reached 62% progress.
Santos made the final decision to invest in the Pikka Project in August 2022. Its objective and projection once in operation is to regularize and maintain drilling , together with the oil processing facility it will produce approximately 80,000 barrels of oil per day (bopd).
Kevin Gallagher, CEO of Santos , highlighted that along with other projects such as Barossa and carbon capture and storage (CCS) companies, Pikka will be transformative for Santos, ensuring stable cash flows for the next 10 to 15 years.
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Source: oilandgras360.com
Photo: Santos Ltd
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