Repsol and Santos reach first oil at Pikka, reviving Alaska’s energy sector

Repsol and Santos have achieved first oil at the Pikka project on Alaska's North Slope.

The development represents a total investment of approximately US$1 billion.

Production is expected to reach 80,000 barrels of oil per day by the third quarter of 2026.

This project aims to revitalize Alaska's oil sector after decades of production declines.

The announcement follows a successful state oil and gas lease sale held in March.

Output from Pikka will contribute a notable volume to the U.S. domestic energy supply.