Santos holds a 51 percent interest in the Pikka Unit, with Spanish company Repsol holding the remaining 49 percent. Santos entered the Alaska oil patch in 2021 with the acquisition of Papua New Guinea-based Oil Search. That company had purchased interest in Pikka in 2018 from Armstrong Oil & Gas, the Colorado-based company that teamed up with Repsol to drill exploration wells in 2013 and 2015 that established the Nanushuk formation beneath Pikka as the largest onshore oil find in the United States since the \u201880s.<\/p>\n
Santos committed $2.6 billion for Phase 1 of Pikka within a year of acquiring the asset. As of last fall, first oil was anticipated before the end of winter, but the timeline slipped into the second quarter of 2026.<\/p>\n
Gallagher says, \u201cThe Pikka Phase 1 project has demonstrated Santos\u2019 capability to develop this world-class resource safely, responsibly, and efficiently. We are already implementing technical drilling improvements that save time and cost, and we will continue to drive improved performance into the future.\u201d<\/p>\n
Pikka Phase 1 is now in the start-up and late-stage commissioning process. Production is planned to be intermittent while key subsystems are brought online, and then output will be maintained for about one month until water injection is established following the start-up of the Seawater Treatment Plant.<\/p>\n
\u201cAs we now take Pikka phase 1 into operations, we are transitioning from project execution to our disciplined, low-cost operating model which will maximise the project\u2019s value for our shareholders for the long term,\u201d Gallagher says.<\/p>\n","protected":false},"excerpt":{"rendered":"Santos holds a 51 percent interest in the Pikka Unit, with Spanish company Repsol holding the remaining 49…\n","protected":false},"author":2,"featured_media":30068,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120],"tags":[13256,127,5000],"class_list":["post-30067","post","type-post","status-publish","format-standard","has-post-thumbnail","category-repsol","tag-pikka","tag-repsol","tag-santos"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/posts\/30067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/comments?post=30067"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/posts\/30067\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/media\/30068"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/media?parent=30067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/categories?post=30067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/tags?post=30067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}