Oil Search starts FEED in Alaska
PERTH (miningweekly.com) – ASX-listed Oil Search has announced front-end engineering design (FEED) for Phase 1 of its Pikka project, in Alaska.
The Phase 1 project would include a single drill site and an 80 000 bbl/d production facility, where first oil is planned for 2025.
The Phase 1 project is expected to cost some $3-billion and will produce oil at a break-even cost of supply of less than $40/bl Brent inclusive of a 10% return.
Oil Search said on Monday that the FEED would consist of finalising the design scope, execution plan, budget and schedule for the Phase 1 project, ensuring the design supports optimal expansion to deliver value from the Nanushuk reservoirs.
The FEED will progress engineering and design for the production facility, infrastructure for the single initial drill site, pipelines and operations pad infrastructure, and would deliver on key drilling milestones, including final well designs and drilling processes and systems.
During FEED, Oil Search will also begin detailed engineering and procurement for the seawater treatment plant, which will provide high quality water to support the Pikka project reservoir waterflood.
“This is an exciting time for Oil Search, our working interest partner and for the people of Alaska. This is a key milestone towards realising material value from our Alaska assets and creating long-term benefits for the North Slope community and jobs for Alaskans,” said Oil Search MD Keiran Wulff.
“With an 80 000 bbl/d capacity, Phase 1 of the Pikka project will provide a revenue stream to help support further Alaskan development. With confirmed 2C resources in Alaska of nearly a billion barrels of oil and further opportunity, we are exceedingly optimistic about Oil Search's future in Alaska.”
Comments
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