ConocoPhillips Alaska’s Nuna Project Produces First Oil
ConocoPhillips Alaska’s Nuna project produced first oil on December 17 and will add wells, on-pad infrastructure, and pipelines that tie to the Kuparuk River Unit.
ConocoPhillips Alaska’s Nuna project produced first oil on December 17 and will add wells, on-pad infrastructure, and pipelines that tie to the Kuparuk River Unit.
In the ten years since voters upheld SB21, oil taxation has seen a decade of relative stability. Has the tax structure lived up to its promise of boosting investment in Alaska’s oil fields?
ConocoPhillips signed a $300 million purchase agreement for Chevron’s 5 percent interest in the Kuparuk River Unit and 1.2 percent share of Prudhoe Bay.
ConocoPhillips’ Nuna module, delivered to the North Slope’s Kuparuk River Unit, is its first Alaska-made production module in twenty years.
The Alaska Oil and Gas Association this week announced the individuals and companies it will honor with its 2024 Industry Awards.
Two global oil companies with headquarters about 5 miles apart in Houston, Texas agreed to a $22.5 billion transaction.
ConocoPhillips announced in December 2023 a Final Investment Decision to move forward with the Willow project, while construction continues in 2024 on the Nuna project. The company updates us on some of the most anticipated North Slope developments.
The majority of North Slope infrastructure is financed, constructed, and maintained by private entities to support their oil exploration and production activities. Despite North Slope explorers and operators always having an eye on efficiency, some infrastructure (such as processing facilities) isn’t well suited for sharing among multiple companies. However, other infrastructure does lend itself to common use, such as roads and pipelines.
Construction begins this year, with drilling next year, at ConocoPhillips’ Nuna project, just east of Colville River, using a drill site in the Kuparuk River Unit.
ConocoPhillips Alaska reported net income of $416 million in the first quarter of 2023, as the company ramps up development of the Willow field.