Santos brings first Pikka phase one wells online on Alaska’s North Slope

Australian vigor institution Santos has begun continuous accumulation operations astatine the Pikka signifier 1 lipid task connected Alaska's North Slope, with the archetypal accumulation wells present online.

The task is presently delivering astir 20,000 barrels per time (bpd).

The institution expects to commencement unit enactment done seawater injection implicit the coming weeks and plans to incrementally bring further accumulation wells online arsenic the task develops.

Santos is aiming to execute plateau accumulation of astir 80,000bpd during the 3rd 4th of 2026 (Q3 2026).

According to Santos, Pikka signifier 1 is expected to bring astir 400 cardinal barrels (mbbl) of gross proved positive probable (2P) reserves into production.

The institution has besides indicated that an further 600mbbl of gross contingent assets could enactment further staged improvement beyond the archetypal signifier wrong the Pikka Unit.

Santos managing manager and CEO Kevin Gallagher said: "The archetypal accumulation wells are present online and delivering continuous production. We volition commence unit enactment done seawater injection and bring much wells online progressively, gathering accumulation toward our plateau people of astir 80,000 barrels per time successful the 3rd 4th of this year.

"Pikka is simply a high-quality, low-cost lipid improvement with beardown economics and agelong reserves beingness benefitting not lone Santos and its associated task spouse Repsol but besides cardinal stakeholders including the State of Alaska and Alaska Native Corporations. The task is acceptable to make robust currency flows and enactment beardown shareholder returns implicit the coming years."

Santos holds a 51% involvement successful the task and serves arsenic operator, portion Spanish institution Repsol owns the remaining 49%.

The Australian institution became relation pursuing its acquisition of Oil Search successful December 2021.

Santos and Repsol reached a last concern determination for the $2.6bn Pikka signifier 1 task successful August 2022.

Last month, Santos confirmed it volition determination guardant with the Agogo accumulation installation tie-in task successful Papua New Guinea.

"Santos brings archetypal Pikka signifier 1 wells online connected Alaska's North Slope" was primitively created and published by Offshore Technology, a GlobalData owned brand.