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Page added on November 9, 2019

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North Slope oil production declined in September and October, cutting into state petroleum earnings


The trend of gradually declining output is expected to continue until several new projects now in development come on line. Fiord West, a satellite within the Alpine field, is expected to begin production in late 2020 with peak output estimated at 20,000 barrels per day, ConocoPhillips’ Lowman said.

However, substantial new production is seen in next seven years, if new projects now in advanced planning are approved for construction.

The pending new citizen referendum that would raise oil taxes could affect the decisions.

GMT-2, a new project in the National Petroleum Reserve, is in construction and will start up in 2021 with 40,000 barrels per day expected for its peak production. This has been formally approved, or “sanctioned,” by ConocoPhillips, so it will be completed on schedule.

Other projects have not yet been sanctioned, however. Pikka, a larger project being developed by Oil Search, a Papua New Guinea producer and Spain-based Repsol, is now expected to see a preliminary startup in 2022 at 30,000 barrels per day and full production of 120,000 barrels per day in 2024, if the project is formally approved.

A larger ConocoPhillips project, Willow, is in advanced planning and could be producing in 2025 or 2026 with an expected peaks of 120,000 barrels per day, but that also has not yet been given the final go-ahead.

ConocoPhillips and OilSearch are planning extensive new drilling this winter to prove up more reserves for Pikka and Willow, and to test new prospects that were discovered last year.

7 Comments on "North Slope oil production declined in September and October, cutting into state petroleum earnings"

  1. dave thompson on Sat, 9th Nov 2019 10:55 am 

    Alaskan oil has been in decline for decades. How is any of this news?

  2. full woke supremacist muzzies jerk maximum newspeak so I open the door I can't get in that way my body don't fit in the door only your hand on Sat, 9th Nov 2019 11:18 am 

    Muzzie held whitey supertard for 30 years
    Muzzies “barroness” warsi who I said I gave a bit of tard research on her and it’s all muh feels. The peerage system produces comical english. The muzzie is fat should be in muzzies amputation machine and muzzie hamster machine.
    Thank you supertard for using colorful language. Muzzies died like a dog

  3. Rik on Sun, 10th Nov 2019 5:26 pm 

    America should drill for more oil and gas, not less. To hell with the “Save The Planet”.

  4. Rik on Sun, 10th Nov 2019 6:06 pm 

    The Arctic belongs to the US.

  5. makati1 on Sun, 10th Nov 2019 6:25 pm 

    A bit delusional Rik? Miss your meds?

  6. Rik on Sun, 10th Nov 2019 6:54 pm 

    Makati1, the best President ever is Trump. If he is impeached, Pence should take the Oval Office.

  7. Horace Moning on Mon, 11th Nov 2019 11:34 am 

    Hi sirs,I’m looking for newsletters of investments or lease if I may thank you.

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