Santos, Repsol achieve first oil at Pikka in Alaska

ANCHORAGE, May 18, 2026 – Santos and partner Repsol have achieved oil production from the first phase of the Pikka development on Alaska’s North Slope, the companies announced on Monday.

Production at Pikka is expected to hit 20,000 bopd in the next few weeks as late-stage commissioning progresses and reach a plateau of 80,000 bopd by Q3 2026. Santos operates the project with a 51% interest, while Repsol holds the remaining 49%.

First sales revenue is expected within three, with Santos and Repsol alternating tanker shipments from the Port of Valdez.

28 wells have been drilled at Pikka in its first phase of development, of which 21 have been stimulated and flowed back in line with expectations. Upon completion, Pikka will have 45 wells operated from a single well pad, a seawater treatment plant, a remote operations centre and associated pipelines tied into existing infrastructure.

“Alaska has a huge runway ahead of it which will underpin value-accretive production growth for Santos for the long term. When the Pikka Field was discovered, the Nanushuk formation was recognised as a new generation play in an established global super basin and we are proud to be at the forefront of unlocking its resource potential,” said Santos managing director and CEO Kevin Gallagher.

Santos and Repsol have drilled around 20 exploration and appraisal wells on Alaska’s North Slope since 2011, with results that have included the Mitquq discovery at the Quokka Unit and the Stirrup discovery in the Horseshoe Unit.

Photo courtesy of Santos

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