Santos brings first Pikka wells online in Alaska

(WO) — Santos has commenced continuous production operations at the Pikka Phase 1 oil development on Alaska's North Slope, marking a major milestone for one of the region's largest new oil projects. 

The company said the first production wells are now online and delivering approximately 20,000 bopd of gross production. Santos expects to begin seawater injection for reservoir pressure support in the coming weeks before bringing additional wells online.

Pikka Phase 1 is targeting plateau production of approximately 80,000 bopd during the third quarter of 2026.

"Pikka is a high-quality, low-cost oil development with strong economics and long reserves life," said Santos Managing Director and CEO Kevin Gallagher. "The first production wells are now online and delivering continuous production. We will commence pressure support through seawater injection and bring more wells online progressively, building production toward our plateau target."

The project brings approximately 400 MMbbl of gross 2P reserves into production and is supported by an additional 600 MMbbl of gross 2C resources that could underpin future development phases within the Pikka Unit.

Located on Alaska's North Slope, Pikka is operated by Santos in partnership with Repsol. The development is expected to become a significant contributor to Alaska oil production and generate long-term cash flow from one of the state's largest recent oil discoveries.

According to Santos, the project's resource base supports staged expansion opportunities beyond Phase 1 as operators continue to evaluate additional development potential across the field.

As of year-end 2025, Santos' net share of reserves and contingent resources at Pikka stood at 164 MMbbl of 2P reserves and 252 MMbbl of 2C resources.