Alaska’s Pikka development starts continuous production

ANCHORAGE, June 24, 2026 – Santos and partner Repsol have commenced continuous production operations at the Pikka development in Alaska’s North Slope, with the first wells on stream delivering gross production of approximately 20,000 bopd, Santos said on Tuesday.

Santos, which operates the asset, said it plans to begin seawater injection for pressure support in the coming weeks before bringing additional wells on stream. It expects to reach plateau production of approximately 80,000 bopd in Q3 2026.

Pikka Phase 1 is targeting to bring approximately 400 million barrels of gross 2P reserves into production, while an estimated 600 million barrels of gross 2C resources will support future staged developments.

“Pikka is a high-quality, low-cost oil development with strong economics and long reserves life, benefiting not only Santos and its joint venture partner Repsol, but also key stakeholders, including the State of Alaska and Alaska Native Corporations. The project is set to generate robust cash flows and support strong shareholder returns over the coming years,” said Santos managing director and CEO Kevin Gallagher.

Santos is an Australia-based energy company with operations across Australia, Alaska, Papua New Guinea and Timor-Leste. The company produces oil and natural gas and is active across upstream developments, LNG projects and carbon management initiatives. In Alaska, Santos is focused on developing the Pikka project on the North Slope in partnership with Repsol.

Photo courtesy of Worksite

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