![]() Phase 1 of Pikka is an estimated US$2.6 billion investment, with 2,600 jobs during construction and 500 during production of 80,000 barrels per day.Ī 2019 Clean Water Act permit allows for three drill sites for production and injection wells, a central processing facility, an operations center with a 200-bed camp, approximately 25 miles of roads, two bridges, and approximately 35 miles of pipelines. “The project will add further diversification to our portfolio and reduces geographic concentration risk,” says Santos Managing Director and CEO Kevin Gallagher. Piña fiber is often blended with cotton, abaca, silk, or polyester to create wonderful light, breezy. The cloth is translucent, soft and fine with high luster. ![]() The fibers are ivory-white in color and naturally glossy. In between the two forecasts, Santos acquired Oil Search, including its Alaska headquarters in the former BP building in Midtown Anchorage. Piña fiber is extracted from the leaves of a pineapple plant. At the same time, Repsol anticipated first oil from Pikka in 2026, a delay from the 2025 forecast a year earlier when the majority partner was Papua New Guinea-based Oil Search. This includes an increase of 40 million bbl (gross) to 767.6 million barrels (gross) 2C contingent resource increase within the Pikka Unit and a gross booking of 200.2 million bbl of 2C contingent resources in the Quokka (Mitquq) and Horseshoe (Stirrup) trends.The decision had been expected this month after Spanish oil company Repsol, the 49 percent partner in Pikka, alerted investors in a second-quarter earnings call. The company noted also a 33% increase in 2C contingent resources in its Alaskan North Slope acreage to a gross of 968 million bbl from 728 million bbl, of which 494 million bbl is net to Oil Search. It intends to sell 15-51% of its interest in Pikka and other Alaskan assets. Oil Search plans to launch a formal divestment process in first-quarter 2021, either solely or in cooperation with JV partner Repsol. Works also included construction of the Pikka B drill site, the production facility and operations center pads, a 58-m long bridge over the Miluveach River, and an 18.5-km gravel road. This year Oil Search completed civil works for road construction to Pikka drill site B. The design enables Pikka field to be brought on stream with a facility that meets the original processing requirements plus the ability to add capacity during subsequent phases. Following detailed engineering and value optimization studies this year, costs savings have been achieved by using a modular, truckable process facility design with standardized equipment. Oil will be produced at a breakeven cost of supply of less than $40/bbl, it said. Oil Search, the company advancing the 3 billion Pikka development, says the project is being held hostage by Conoco’s demand for tens of millions of dollars a year for road access through. Oil Search says the slimmed down initial project cost is expected to be less than $3 billion. A final investment decision is expected by late 2021 leading to first oil production in 2025. The initial project will be based on a single drill site development with a production capacity of 80,000 b/d. The Oil Search Ltd.-operated joint venture on the North Slope of Alaska is preparing to enter the front-end engineering and design (FEED) stage for its proposed Pikka Phase 1 oil development early in 2021.
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