Anchorage, AK – The Alaska Oil and Gas Association (AOGA) congratulates Santos, Repsol, and their Alaska Native Corporation and industry partners on achieving first oil production from the Pikka Project — the most significant new North Slope developments in decades.
Originally discovered on state lands in 2013, first oil at Pikka is a major milestone for Alaska and a testament to years of planning, engineering, investment, and hard work by thousands of Alaskans. Santos and Repsol have invested over $3 billion to start production at Pikka.
Pikka Phase One is proof that Alaska’s current oil tax system is attracting major investment to the North Slope and bringing new companies to Alaska. Stable fiscal policy has helped make this a reality and the success of Pikka demonstrates what can happen when companies have the certainty needed to make long-lead investments in Alaska.
Once fully operational, Pikka Phase One is expected to produce approximately 80,000 barrels of oil per day and support roughly 400 full-time jobs. The project will strengthen government revenues and reinforce Alaska’s critical role in American energy security.
“First oil from Pikka is a tremendous milestone for Alaska and a testament to the long-term vision, investment, and execution by Santos and Repsol. Projects of this scale do not happen overnight; they require years of planning, billions of dollars in capital, and the confidence to invest in Alaska for the long term. Pikka is proof that Alaska’s current fiscal system is working to attract and support new development on the North Slope,” said Steve Wackowski, president and CEO of AOGA. “Pikka Phase One is the beginning of a long runway of opportunity for Santos and Repsol in Alaska, including future phases of development and additional prospects across the Nanushuk trend. These investments will help sustain throughput in TAPS, strengthen American energy security, and deliver jobs and billions more in revenue to Alaska for decades to come.”
Beyond future expansion at Pikka, Santos and Repsol recently announced appraisal success at Quokka, a significant oil field on state lands south of Pikka. In addition, the partnership has already contracted a rig to drill a key appraisal well this winter at the Stirrup prospect.
AOGA congratulates everyone involved in bringing this historic project online and looks forward to the long-term benefits Pikka will provide for Alaska and the nation.
About the Alaska Oil and Gas Association
AOGA is a professional trade association whose mission is to foster the long-term viability of the oil and gas industry in Alaska for the benefit of all Alaskans.