Santos has successfully loaded the inaugural crude oil cargo from its Pikka Phase 1 development on Alaska’s North Slope.
The first shipment comprised 450,000 barrels of Alaska North Slope crude, loaded onto the tanker Polar Resolution at the Valdez Marine Terminal. The vessel is bound for refining networks along the US West Coast.
Pikka Phase 1 is currently producing around 23,000 barrels of oil per day (gross) as operations scale up toward a target plateau production of approximately 80,000 barrels per day, expected during the third quarter of 2026.
Santos CEO Kevin Gallagher highlighted the significance of the achievement, marking the transition into commercial exports from the world-class asset.
“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,” Gallagher said.
“The Pikka phase 1 project has demonstrated Santos’ capability to develop this world-class resource safely, responsibly and efficiently.
“We are already improving technical limits during our drilling program that save time and cost, and we will continue to pursue improved performance.”
Gallagher added that the company’s focus is now shifting from project execution to its disciplined, low-cost operating model to maximise long-term value for shareholders.
Santos serves as the project operator and holds a 51 per cent controlling interest in the Pikka Unit, with global energy company Repsol holding the remaining 49 per cent.
The development was delivered in partnership with the State of Alaska, local contractors, Alaska Native corporations, and regional communities.
