Global oil and gas companies Santos and Repsol say that they'll invest $2.6 billion to move ahead with development of the giant Pikka oil project on Alaska’s North Slope.
Alaska political leaders quickly celebrated the news on Tuesday, including Republican Sens. Lisa Murkowski and Dan Sullivan, who said in a statement that the project will create an estimated 2,600 construction jobs and 500 permanent jobs.
Sullivan called the announcement “great news for energy security, national security, and for economic and community development, including thousands of jobs for Alaskans.” Republican Gov. Mike Dunleavy said it “will continue the renaissance on Alaska’s North Slope.” Fully developing Phase 1 of the Pikka project will involve drilling 45 wells from a single well pad. Related facilities will include a production facility, operating center, seawater treatment plant and pipelines, Repsol said in a statement.
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