NorthAmOil: ConocoPhillips to develop Nuna project in Alaska

ConocoPhillips Alaska has announced the approval of funding for the development of the Nuna project in the state’s Kuparuk River Unit (KRU). The project will involve the construction of 29 development wells, on-pad infrastructure and pipelines tied back to existing KRU processing facilities.

The Nuna field is expected to contribute up to 20,000 barrels per day (bpd) of oil production at its peak. ConocoPhillips expects to begin construction activities this year and continue them into 2024. Drilling is then anticipated to begin in late 2024, and first oil is expected by early 2025.

ConocoPhillips acquired the Nuna acreage in 2019 from Dallas-based Caelus Energy, which had already completed the construction of the gravel road and pad for the 3T drill site. The project will leverage existing infrastructure at the KRU for production.

This comes as ConocoPhillips is planning to invest around $1bn per year in growing its Alaska legacy business, including the development of projects such as Nuna.

“Our investment in this project was approved due to Alaska’s stable fiscal regime which is clearly working to promote new and ongoing investment,” stated ConocoPhillips Alaska’s president, Erec Isaacson.