![]() ![]() ![]() Wulff added: "As previously announced, given current market conditions, Oil Search has decided to delay the Final Investment Decision date for the Pikka Unit Development. We now have a strong understanding of the geology and potential productivity of the prolific Nanushuk play that underlies our portfolio of leases on the North Slope, which could add substantial resource and value to the Pikka Unit Development." We also discovered high quality oil in a deeper reservoir at Mitquq which was not tested. Keiran Wulff, Oil Search’s managing director, said: “We are very encouraged by the success of our 2019/20 Alaskan exploration programme, with oil discovered in all three penetrations, at Mitquq 1, Mitquq 1 ST1 and Stirrup, and excellent flow rates achieved in the two well tests. Oil Search said that the two Mitquq (Mitquq 1 and Mitquq 1 ST1) and Stirrup 1 oil discoveries, together with the Mitquq 1 ST1 and Stirrup well tests, have provided valuable information regarding the geology and well productivity of the Nanushuk play in the areas to the east and south west of the Pikka Unit. On test, the well flowed at a stabilised rate of 1,730 barrels of oil per day (bopd) from a single stimulated zone. Mitquq 1 ST1, a sidetrack from the Mitquq 1 oil discovery, located nine kilometres east of the proposed central processing facility of the Pikka Unit Development, encountered a net pay zone of 52.5 metres (172 feet) with a gas cap of 9 metres (29 feet). Remaining recoverable reserves The field is expected to recover 500.28 Mmboe, comprised of 500.28 Mmbbl of crude oil & condensate.įor more details on the Pikka Unit (Nanushuk) Conventional Oil Field, buy the profile here.Australia-listed company Oil Search has announced that testing of the Nanushuk reservoirs in Alaska encountered in the Mitquq 1 ST1 and the Stirrup 1 wells has been completed. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2056. Production from Pikka Unit (Nanushuk) Production from the Pikka Unit (Nanushuk) conventional oil development project is expected to begin in 2026 and is forecast to peak in 2030, to approximately 120,556 bpd of crude oil and condensate. The Pikka Unit (Nanushuk) conventional oil development will involve the drilling of approximately 45 wells.įield participation details The field is owned by Repsol and Santos. The development cost is expected to be $2,600 m. Final investment decision (FID) of the project was approved in 2022. The project is currently in construction stage and is expected to start commercial production in 2026. ![]() Pikka Unit (Nanushuk) is a conventional oil development located onshore the US and is operated by Oil Search (Alaska). ![]()
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