US$3.0billion (gross) and produce oil at a break-even cost of supply of less than US$40 per barrel Brent inclusive of a 10% return.
The Pikka project’s Phase 1 is expected to cost approx. Resilient, low emissionscdesign unlocks options for future, self-funded expansions The STP will provide high qualitywater to support the Pikka project reservoir waterflood utilising latest technology. Procurement activities for key items will launch, helping to ensure timely delivery of pipelines, facilities, the drilling rig and other materials, supplies and services needed to support first oil, planned for 2025.ĭuring FEED, the Company will also begin detailed engineering and procurement for the Seawater Treatment Plant (STP). FEED will also deliver key drilling milestones including final designs for wells and drilling processes and systems. Specifically, FEED will progress engineering and design for the production facility, infrastructure for a single initial drillsite (Nanushuk Drill Site B, or NDB), pipelines, and operations pad infrastructure including camps. Phase 1 FEED scope focused on delivering 80,000 bopd starting in 2025įront-end engineering and design (FEED) will consist of finalising the design scope, execution plan, budget and schedule, and will reduce project risk, ensuring the design supports optimal expansion to deliver full value from the giant Nanushuk reservoirs.
This is an exciting and critical step toward delivering production and revenue from Oil Search’s Alaska assets. Phase 1 will include a single drill site and a production facility with 80,000 barrels of oil per day (bopd) capacity. Oil Search has announced FEED entry for Phase 1 of the Pikka project on Alaska's North Slope.
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