12/23/2023 0 Comments Pikka roadThat decision - the green light on whether to actually build the development - is currently scheduled for the middle of this year. Without guaranteed road access, Oil Search cannot proceed with its final investment decision for the first phase of the Pikka project, the company said in a letter last month to the Alaska Department of Natural Resources. reported that the company has put its 51% stake in Pikka up for sale.Īround the same time, Santos’ Alaska subsidiary, Oil Search, complained that ConocoPhillips is demanding “exorbitant” fees, totaling hundreds of millions of dollars, in exchange for allowing vehicles to cross its roads that connect the North Slope’s Prudhoe Bay oil hub with the new Pikka prospect. The $3 billion Pikka project could ultimately boost the flow of oil down the trans-Alaska pipeline by 25%, and it faces less opposition from conservation groups and Indigenous residents than other major North Slope developments.īut last month, a news outlet in Australia - home of the project’s new owner, Santos Ltd. The fallout from a merger deal and a multimillion-dollar dispute with ConocoPhillips over road access are threatening to snag one of Alaska’s biggest new North Slope oil developments. The company, along with Armstrong Energy, discovered the promising Pikka prospect. A drill rig works for Repsol at its Colville Delta operations in 2014.
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