Santos has begun continuous production at the Pikka phase one oil project on Alaska's North Slope, with initial wells now delivering approximately 20,000 barrels per day. The Australian energy company plans to start pressure support through seawater injection in the coming weeks and will progressively bring more wells online, targeting plateau production of about 80,000 barrels per day in the third quarter of 2026. Pikka phase one is expected to produce around 400 million barrels of gross proved plus probable reserves, with an additional 600 million barrels of gross contingent resource potentially supporting further staged development. Santos holds a 51 percent operating stake in the project, while Repsol owns the remaining 49 percent, following a final investment decision on the 2.6 billion dollar project in August 2022.
Repsol S.A.Repsol holds 49% stake in Pikka phase one, which has started production and targets 80,000 bpd plateau.
Santos started production at Pikka phase one, its operated project with 51% stake, targeting 80,000 bpd plateau.