Santos achieves first oil at Pikka on Alaska’s North Slope

Santos achieved first oil from the Pikka phase 1 development on Alaska’s North Slope, with oil flow established through the lease automated custody transfer (LACT) meter into the Pikka sales oil line. Santos operates the project and holds a 51% interest in the Pikka Unit, with partner Repsol holding the remaining 49%.

Production has initiated as part of a start-up and late-stage commissioning process that will lead to an initial ramp-up to 20,000 bbl/day gross over the next few weeks, with output planned to be intermittent as key subsystems are progressively brought online. Production is then expected to be maintained at that level for approximately one month until water injection is established following start-up of the seawater treatment plant.

With well inventory buildout and progression of well tie-in activities, the project is expected to reach a production plateau of 80,000 bbl/day gross during Q3 2026. First sales revenue is expected approximately two to three months from first oil.