read moreĬonocoPhillips is challenging that permit on the grounds the department "improperly granted" Oil Search "access to KRU roads that are the private property of the KRU lessees", according to a letter dated April 5, and reviewed by Reuters, from the company to department Commissioner Corri Feige. Maitlis and Lawrence's (2007) exploration of the mechanics of sensegiving. Oil Search will invest 2.6 billion to bring the. Located in the Nanushuk oil formation on state leases, the Pikka unit contains an estimated 768 million barrels of recoverable oil. The Oil Search Ltd.-operated joint venture on the North Slope of Alaska is preparing to enter the front-end engineering and design (FEED) stage for its proposed Pikka Phase 1 oil development early. FID is targeted for late 2021, with first oil targeted for 2025. Oil Search rejected ConocoPhillips' proposal to pay $95 million in fees and applied to the state for a permit to access the roads, which the Alaska Department of Natural Resources granted on March 29, until the two companies reach a road use agreement. Alaska Governor Mike Dunleavy is praising today’s announcement by Santos and Repsol to move forward with Phase 1 of the Pikka project on Alaska’s North Slope. Oil Search has completed optimisation efforts and,subject to oil prices,the Joint Venture is preparing to proceed into FEED in early 2021 with Pikka Phase 1, based on a single drill site development with a production capacity of 80,000 bopd. independent's Kuparuk River Unit (KRU), next to Pikka. The other, ConocoPhillips’ Willow project, has been delayed by litigation and a new Biden administration environmental review. The appeal marks the latest move in a dispute between ConocoPhillips and Pikka developer Oil Search, which Santos acquired last year, over fees that Oil Search would pay ConocoPhillips to use roads in the U.S. Pikka is one of two major oil prospects on the North Slope. MELBOURNE, April 21 (Reuters) - ConocoPhillips (COP.N) is challenging a land use permit issued by the state of Alaska that may block the development of Santos' (STO.AX) $3 billion Pikka project, the biggest new oil project on Alaskan land in decades. Our focus in Alaska is advancement of our Pikka Phase 1 project, which includes a single drill site, an oil processing facility, and other infrastructure to.
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