Santos announces first oil from Pikka phase 1 development in Alaska

Santos (SSLZY) announced first oil from the Pikka phase 1 development on Alaska’s North Slope, with oil flow established through the Lease Automated Custody Transfer, LACT, meter into the Pikka sales oil line. Santos is the operator of the project and holds a 51% interest in the Pikka Unit, with partner Repsol (REPYY) holding the remaining 49%. Pikka phase 1 has initiated production as part of the start-up and late-stage commissioning process that will lead to an initial ramp-up to 20,000 bbl/day over the next few weeks, while production is planned to be intermittent as key subsystems are progressively brought online. Production is then expected to be maintained at that level for about one month until water injection is established following the start-up of the Seawater Treatment Plant.