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“The North Slope,” Imaz explained, “is an area where infrastructure, facilities, pipelines are (already) there. In a recent interview with Energy Intelligence, Imaz, who has a PhD in Chemical Sciences, was asked how the Pikka project in Alaska fit with Repsol’s strategy to be low cost, low carbon and shorter cycle. Under Imaz’s leadership, Repsol has accelerated its assets’ decarbonization process, becoming one of the leaders in the energy transition in Spain and the first company to commit to reaching net zero emissions by 2050. Since Imaz assumed the top executive position in the Spanish major in 2014, he has led the company’s transformation process, establishing Repsol as a global multi-energy company, a major player in the Spanish electricity and gas market, and a leader in the development of sustainable mobility solutions that boasts one of the most efficient refining systems in Europe. Repsol’s involvement in the development of Pikka, which is west of the central North Slope, appears to fit with its CEO Josu Jon Imaz’s quest for a low carbon future as well.
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In fact, OSA, which holds a 51% working interest in the Pikka unit, has been designing the development project to be a global leader and model for efficient low emission intensity developments by incorporating GHG emissions targets agreed upon with Repsol, which holds a 49% working interest in the Pikka unit. Through the front end engineering and design, or FEED, process OSA has continued to identify greenhouse gas, or GHG, emissions reduction opportunities and implement them into Pikka’s design. 2 filing of the 2022 Pikka unit plan of development, OSA pointed to the Pikka project’s sustainability initiative and low carbon footprint. In a report on the previous year’s performance included in operator Oil Search Alaska’s Nov.
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Sidebar: Repsol CEO lauds Pikka’s low carbon footprint Providing coverage of Alaska and northern Canada's oil and gas industry
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Related infrastructure would include a production facility and pipelines, Repsol said in a statement.SEARCH our ARCHIVE of over 14,000 articles The companies said they would make efforts to offset and reduce fossil-fuel emissions, including through use of natural gas instead of diesel fuel during operations.įully developing the first phase will involve drilling 45 wells from a single well pad. Mike Dunleavy said it “will continue the renaissance on Alaska’s North Slope.” Lisa Murkowski and Dan Sullivan lauded the plans for the Pikka project. Development could also generate billions of dollars in state and local tax revenue, primarily through royalties to the state.Īnother major North Slope oil prospect, ConocoPhillips' Willow project, has been delayed by litigation and a new environmental review.Īlaska U.S. If developed, the field on state land east of the National Petroleum Reserve-Alaska could significantly boost the flow of oil through the trans-Alaska pipeline system. Santos, in a statement, said the funds will cover the initial phase of development at the Pikka field, with 80,000 barrels of oil daily expected to begin flowing in 2026. Santos last year acquired Oil Search of Papua New Guinea, which had been working to advance the project.
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Santos has a 51% stake in the Pikka project, and the company said Tuesday that its investment will be $1.3 billion. ANCHORAGE, Alaska (AP) - Two oil and gas companies have announced plans to invest $2.6 billion into developing a major oil field on Alaska's North Slope.Īustralia-based Santos and Spain-based Repsol made the announcement, which was lauded by state political leaders, the Anchorage Daily News reported.