ConocoPhillips makes FID for Alaska’s Willow project
USA
HOUSTON, December 27, 2023 – ConocoPhillips has made its FID for the Willow oil and gas project in Alaska, USA, the US energy giant announced on Friday.
The project located on the northern state’s North Slope is expected to deliver between USD 8 billion and USD 17 billion in revenue for the government.
In March 2023, the government approved a reduced plan for the project, bringing its scope to three well pads as opposed to five in the original proposal.
This move eliminates the need to construct around 17.7 kilometres of road, 32.2 kilometres of pipelines and 538,000 square metres of gravel.
Around 600 million boe are expected to be delivered over the life of the project.
The development is expected to produce 180,000 bopd at top capacity.
Production is set to begin in 2029.
“With this project authorization, we’ve begun winter construction and Alaskans have started to receive the benefits from responsible energy development,” said Ryan Lance, chairman and CEO of ConocoPhillips.
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