ConocoPhillips Alaska’s optimization of new technologies and commitment to sustainable development has enabled it to reduce its footprint in the environment by extending drilling from fewer well pads, providing increased revenue and employment opportunities in the state.
The final investment decision is “yes” for Australian oil company Santos to proceed with developing the Pikka Project on the North Slope.
The timeline for the Pikka project appears to be slipping since the arrival of a new majority partner, Santos, late last year.
The Greater Mooses Tooth #2 drill site in the National Petroleum Reserve-Alaska has achieved first oil production, according to ConocoPhillips Alaska.
ConocoPhillips’ size and dominance in Alaska weren’t enough to inoculate it from the effects of the COVID-19 pandemic; however, 2021 was a “reset” year for the company, which produced approximately 208,000 barrels of oil equivalent per day in Q1 with an average price of $60 per barrel.
From spearing new prehistoric pools of crude oil to reworking a field to extract oil deposits previously untapped, drilling rigs are the machines that power the oil and gas industry. But, like any machine, they require significant maintenance and care to keep operating at maximum efficiency.
The filing follows weeks of advocacy and outreach by Senators Lisa Murkowski and Dan Sullivan and Congressman Don Young to members of the Biden administration.
“As we take a look at 2021, our focus is getting back to work for Alaska’s future,” says ConocoPhillips Alaska President Erec Isaacson.
The decision allows for construction of up to three drill sites and associated processing and support facilities, including gravel roads and pipelines to provide access to federal leases and allow for responsible oil and gas development and operations.
Fall is well underway, and with it signs that Alaska’s oil and gas industry is busy preparing for the 2019-2020 winter drilling season.