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
6 December 2024
The NOCs are both looking to take advantage of the petrochemicals boom, with the Saudi firm snapping up stakes in Asian JVs tied to offtake agreements and its Emirati counterpart striking big M&A deals
5 December 2024
While Donald Trump’s future sanctions policy is anything but certain, he may use a ‘carrot and stick’ approach to pursue an end to the war in Ukraine, although any changes will not happen overnight
5 December 2024
The latest sanctions on Gazprombank and other Russian banks may cause disruption, but willing buyers of Russian energy will find ways to continue payments
5 December 2024
The new edition of Outlook, our annual publication about the year ahead for energy, produced in association with White & Case, is available now
