Santos, Repsol Launch Pikka Oil Output at 20,000 Barrels a Day
Updated
Updated · Bloomberg · May 17
Santos, Repsol Launch Pikka Oil Output at 20,000 Barrels a Day
4 articles · Updated · Bloomberg · May 17
Commercial production has started at the Pikka field in Alaska, giving Santos Ltd. and Repsol SA a new source of crude in a state seeking to revive oil flows.
Initial output is expected at about 20,000 barrels a day, with production eventually projected to quadruple as the project ramps up.
Additional expansion plans could lift volumes beyond that level, making Pikka a larger contributor to Alaska's oil resurgence over time.
How will new Alaskan oil fields change the strategic balance of power in the resource-rich Arctic?
Are these 30-year oil projects a smart bet on energy security or a massive stranded asset risk?