Oil Search is listed on the Australian (OSH) and PNG (OSH) security exchanges and its ADRs trade on the US Over the Counter market (OISHY). Oil Search also holds world class oil assets in Alaska’s prolific North Slope. Oil Search Quarterly Report to 31 March 2018 and Assignment of resource to Pikka Unit Alaska Oil Search Recommencement of PNG LNG production ahead. The Pikka field is located on the Alaska North Slope and is operated by Australian-based Santos who merged with the previous operator Oil Search in December. The Company also hold material interests in the Elk -Antelope and P’nyang gas fields and is undertaking a range of activities to support further LNG expansion in PNG. Its 29 per cent interest in the ExxonMobil-operated PNG LNG Project has transformed Oil Search into a regionally significant oil and gas producer. “Our marine and process systems centers of excellence will safely deliver an integrated facility of more than 4,000 tonnes that meets the State of Alaska statutory and regional regulatory environmental requirements and is suitable for the harsh climate of the North Slope.”Įstablished in January 1929, Oil Search has grown into PNG’s largest single investor and most active explorer, operating all the country’s producing oil fields and holding an extensive appraisal and exploration portfolio. Balash said Oil Search has completed 11 miles of roads extending from the Kuparuk River field and several pads so far, with much of that work being done last winter. “We’re excited to provide our engineering, procurement, fabrication, transportation, and final commissioning expertise at the Oliktok site and to be part of the overall success of the Pikka development,” said James Clarke, Senior Vice President of VME Process. The current design for the 6.5 billion Pikka project entails 26 miles of gravel roads, approximately 70 acres of gravel pads, and more than 120 miles of pipelines. Utilizing latest technology including membranes for filtration, sulphate removal, deaeration, VME Process will progress the engineering prior to Oil Search Alaska’s final investment decision. The oil and gas producer needs to sell a stake in the Pikka oil project on Alaska’s North Slope before a decision due late this year to develop it. The project currently in the FEED/BASIC design phase, will include a single drill site and production facility with an initial capacity of 80,000 barrels of oil per day.Īs a part of the project, VME Process will provide an ABS classified bespoke barge for the stand-alone Seawater Treatment Plant to deliver 100,000 bpd of high quality treated injection water to support the Pikka project reservoir waterflood. The Nanushuk oil field is estimated to hold more than 1.2 billion barrels of recoverable light oil, while the Pikka Unit being developed as part of the £3. VME Process of Tyler, Texas will support Oil Search Alaska on their Pikka development project on the North Slope of Alaska.
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7/10/2023 03:58:44 am
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