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Oil Search endures - July 25, 2021 - Petroleum News


Providing coverage of Alaska and northern Canada s oil and gas industry
Oil Search endures
Kay Cashman
Petroleum News
Despite what hindsight might show to be an unwise decision, Oil Search Ltd.’s board quickly accepted the resignation of its top executive Keiran Wulff, creating worries about the future of the big North Slope Pikka development and further opportunity for regional competitor and shareholder Santos to take over the company - and Pikka - at an undervalued price. However, despite badgering from concerned analysts and investors, Oil Search’s board and executive leadership team appear to be standing together in an attempt to stay on track with company-wide plans announced in November, including those for Alaska. ....

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How COVID-19 Pushed Oil Search to Pivot at Pikka - Alaska Business Magazine


How COVID-19 Prompted Oil Search to Pivot at Pikka
Formed nearly a century ago, Papua New Guinea-based Oil Search entered Alaska’s oil and gas scene in 2018 with a $400 million purchase of North Slope oil leases from Armstrong Energy and GMT Exploration. The purchase included interests in the Nanushuk oil field in the Pikka Unit, one of the largest conventional US oil discoveries in thirty years, and the Horseshoe block.
“We entered into Alaska for new growth and to diversify our operations, both geographically and for a mix of oil and gas production,” Executive Vice President of Alaska Bruce Dingeman told attendees at the Alaska Support Industry Alliance’s Meet Alaska conference in March. ....

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US: Oil Search plans selldown as Pikka Project enters FEED


US: Oil Search plans selldown as Pikka Project enters FEED
23 Feb 2021
FEED entry for Phase 1 of the Pikka project on Alaska s North Slope. Phase 1 will include a single drill site and a production facility with 80,000 barrels of oil per day (bopd) capacity. This is an exciting and critical step toward delivering production and revenue from Oil Search’s Alaska assets.
Phase 1 FEED scope focused on delivering 80,000 bopd starting in 2025
Front-end engineering and design (FEED) will consist of finalising the design scope, execution plan, budget and schedule, and will reduce project risk, ensuring the design supports optimal expansion to deliver full value from the giant Nanushuk reservoirs. Specifically, FEED will progress engineering and design for the production facility, infrastructure for a single initial drillsite (Nanushuk Drill Site B, or NDB), pipelines, and operations pad infrastructure including camps. FEED will also deliver key drilling milestones includ ....

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