Pikka road free#

However, Oil Search rejected ConocoPhillipsвЂ™ proposal to pay for using the latterвЂ™s roads. ConocoPhillips is considered a potential buyer of that stake.Д¬onocoPhillips proposed a $95-million one-time payment for longer use of its Kuparuk roads. The latest dispute could delay SantosвЂ™ divestment of its majority stake in the project, hampering its plan to raise $2-$3 billion from asset divestments this year.

In February, SantosВ offered its 51% stake in the Pikka project for sale. It faces less opposition from environmentalists and indigenous groups than other major North Slope developments. The project could enhance the oil flow down the trans-Alaska pipeline by 25%. In 2021, Santos assumed operatorship of the Pikka project during its acquisition of Oil Search. Notably, Santos requires access to Kuparuk roads to conduct its operations. The $3-billion Pikka project is adjacent to the companyвЂ™s KRU oil field. It is the largest oil prospect on Alaska state land in decades.Д¬onocoPhillips operates the Kuparuk River Unit (вЂњKRUвЂќ) on Alaska's North Slope. The dispute could cause setbacks for one of the stateвЂ™s major North Slope oil developments - the Pikka project.

Pikka road free#

ConocoPhillips ( COP Quick Quote COP - Free Report) is involved in a dispute withВ Australia-based energy company Santos Ltd.В regarding road access in Alaska, per a report by Reuters.