Kuparuk Olfield
Alaska’s tentative upstream revival
The war in Ukraine has given new impetus to oil and gas projects in the US’ most northerly state, but two proposed LNG projects may still struggle to reach FID
The Alaskan oil and gas industry has seen a minor revival since Russia’s invasion of Ukraine in early 2022 rekindled energy security concerns among major oil- and gas-importing countries around the world. In August 2022, Australian independent Santos and Spain’s Repsol sanctioned the $2.6b first phase of its Pikka project on Alaskan state-controlled land—marking the first 350m+ boe field to achieve FID in the state since 2000. And after missing three winter construction seasons due to lawsuits filed by conservation groups against its original federal regulatory approval, US superindie ConocoPhillips appears near to reaching FID on its $8b Willow oil project in the federally controlled Nation
Also in this section
14 April 2026
The GECF has warned it may revise its projections for demand this year downwards in light of conflict in the Middle East, although it maintains its forecasts for 2027 and onwards
13 April 2026
Petroleum Economist analysis highlights sharp shift from crude oversupply to market deficit, with Iraq and Kuwait badly affected and key producers Saudi Arabia and the UAE also seeing output sharply lower
13 April 2026
Turkmenistan is moving ahead with a modest expansion of the giant Galkynysh field to sustain gas deliveries abroad, but persistent delays to other key pipeline projects and geopolitical risks continue to constrain its export ambitions
13 April 2026
Expensive electricity has forced out swathes of energy-intensive industry and now threatens the country’s ability to attract future investment in datacentres and the digital economy
