Santos is committed to delivering a net-zero project (scope 1 and 2, equity share) and has entered into Memorandums of Understanding with Alaska Native Corporations to deliver carbon offset projects, including a Strategic Alliance with ASRC Energy Services, a wholly-owned subsidiary of ASRC, on leading technology development for carbon solutions in the Arctic.Īlaska has a rich and proud oil and gas history – welcoming the jobs, investment and community development the industry provides. Taking FID on Pikka Phase 1 is consistent with Santos’ goal of achieving net-zero (scope 1 and 2, equity share) by 2040. The project has strong fundamentals, is located in a world-class oil producing province with significant existing infrastructure, has low unabated emissions intensity and is supported by key stakeholders, including the State of Alaska, the North Slope Borough, the landowner company Kuukpik Corporation and the Arctic Slope Regional Corporation (ASRC). Pikka Phase 1 is expected to produce 80,000 barrels a day of oil gross with first oil anticipated in 2026. Santos, as operator of the Pikka Unit joint venture, today announced a final investment decision (FID) has been taken to proceed with the US$2.6 billion gross (US$1.3 billion Santos-share) Pikka Phase 1 oil project located on the North Slope of Alaska.
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