Alaska’s North Slope on cusp of potential revival
But difficulty accessing resources, particularly on federal land, is compounding the usual problems with operating in such a remote and unforgiving environment
The energy crisis of the 1970s helped propel Alaska to major oil producer status. And after over three decades of declining output despite the state having substantial resource potential, it appears the world’s latest energy crisis may contribute to an Alaskan oil revival. In August, Australian independent Santos, in partnership with Spanish energy company Repsol, announced FID to proceed with the first phase of the Pikka oil project in Alaska—a $3.7bn investment. “More carbon oil projects like Pikka Phase 1 are critical for global and US energy security,” says Santos CEO Kevin Gallagher. “We believe that this is the right project at the right time.” When Santos obtained its 51pc stake in Pi
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