Santos loads first Pikka crude oil cargo from Alaska

Santos has announced the successful loading of the first crude oil cargo from the Pikka Phase 1 development on Alaska’s North Slope, marking the start of commercial exports from the project.

The inaugural cargo, containing 450,000 barrels of Alaska North Slope crude, was loaded onto the Polar Resolution at the Valdez Marine Terminal and will be delivered to refineries on the U.S. West Coast.

Pikka Phase 1 is currently producing approximately 23,000 barrels of oil per day (gross) and is expected to ramp up to plateau production of around 80,000 barrels per day in the third quarter of 2026.

Santos Managing Director and CEO Kevin Gallagher said the first cargo represents the beginning of commercial exports from Pikka and marks another significant milestone for the company.

“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.

“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.

“With Pikka phase 1 now in operation, our focus is on transitioning from project execution to our disciplined, low-cost operating model, to maximise the project’s long-term value for shareholders,” Mr Gallagher said.

Santos operates the Pikka project and holds a 51% interest in the Pikka Unit, while Repsol owns the remaining 49%. The project was successfully developed through close collaboration with contractors, the State of Alaska, Alaska Native corporations, and local communities.