Santos mulls options for Pikka
PERTH (miningweekly.com) – Oil and gas major Santos is weighing the development options for the Pikka oil project, in Alaska.
Pikka was acquired as part of the acquisition of fellow listed Oil Search last year.
Santos chairperson Keith Spence told shareholders at the company’s annual general meeting on Wednesday that the project is a very low emissions-intensity oil project in the world-class, producing hydrocarbon province on the North Slope of Alaska.
The project is currently being progressed towards being sanction ready by the middle of this year.
“Value from the Pikka project may be delivered through sell-down processes and/or participation in project development,” Spence told shareholders.
Phase 1 of the Pikka development will consist of 80 000 bl/d from a single drill site development, with the project to benefit from existing pipeline and other infrastructure. The project would also offer expansion benefits from efficient and phased project execution and modular facilities, Santos previously said.
For the 2022 financial year, Santos has targeted a capital spend of $300-million in Alaska, including the potential development of the Pikka project.
CEO Kevin Gallagher told shareholders that the company would be disciplined in taking further financial investment decisions, ensuring that its growth projects, including Pikka, fitted with the company’s strategy and met its commercial and economic hurdles, including equity interest levels and joint venture alignment.
“As we move into our disciplined growth phase and integrate the Oil Search business, we will maintain our strong focus on costs, and ensure we live by our disciplined, low-cost operating model to drive shareholder returns,” he said on Wednesday.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
