Both companies are building major projects, and senior officials told an industry audience that the future is bright for new oil development in Arctic Alaska.
By Yereth Rosen, Alaska BeaconAn exploration rig operates in the winter of 2019 at ConocoPhillips Alaska Inc.'s Willow prospect. Full-scale construction is now underway to create a major new oil field, with processing and support facilities, and with production of up to 180,000 barrels a day expected to start in 2029.
Mark Ireland, senior vice president for subsurface and exploration at Santos, the company developing the huge Pikka project on state land east of Willow, was also enthusiastic about the North Slope’s long-term prospects. Outside of Willow, there is ongoing development drilling within Prudhoe Bay, continued development of satellites in Kuparuk and continued exploration in the western North Slope area, Dunn said.For it, Pikka development is in just the first phase of what could be a source of oil rivaling Kuparuk, the North Slope’s second-largest oil field, Ireland told the Meet Alaska audience.by the corporation in August of 2022. It represents an investment of $2.
Not addressed in either presentation was a still-lingering dispute between Santos and ConocoPhillips over road access.
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