Investment

Murkowski, Sullivan Congratulate Santos on Pikka Project Investment Decision

08.16.22

U.S. Senators Lisa Murkowski and Dan Sullivan (both R-Alaska) today issued the following statements welcoming Santos’ announcement that it has approved a $2.6 billion investment for Phase 1 of its Pikka project on Alaska’s North Slope.

“This is great news for Alaska that will strengthen our economy for a long time to come,” Murkowski said. “The Pikka project will help refill the Trans-Alaska Pipeline System while creating good jobs for Alaskans and bolstering our nation’s energy security. I appreciate the approach that Santos and their partner, Repsol, have taken to advance this project, their strong collaboration with local entities and communities, and their commitment to producing this resource with net-zero emissions from the project itself.”    

“It’s exciting to see this project, which has been in the works since I was serving as Alaska’s Department of Natural Resources Commissioner, finally come to fruition,” Sullivan said. “Today’s announcement is great news for energy security, national security, and for economic and community development, including thousands of jobs for Alaskans, in our state where we have the highest environmental standards in the world.”

The Pikka project is projected to produce 80,000 barrels of oil per day by 2026. Santos owns 51 percent of the project and Repsol holds a 49 percent stake. Pikka will create an estimated 2,600 construction jobs and 500 permanent jobs, furthering the companies’ strong commitment to Alaska. At present, about 98 percent of the employees for Santos’ U.S. subsidiary, Oil Search Alaska, live in Alaska. 

 

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