ExxonMobil Corp. (NYSE: XOM) resumed drilling at Point Thompson on Alaska’s North Slope, the company said March 12.

The initial production system is being constructed and is scheduled to be brought online in 2016. It will produce up to 10 Mbbl/d of natural gas condensate.

Two injection wells will work in tandem with a production well, cycling up to 200 MMcf/d of natural gas through an onsite central processing facility. The condensate will then be transported by a 22-m pipeline to the Trans-Alaska Pipeline System.

Point Thomson is located on state acreage along the Beaufort Sea, 60 m east of Prudhoe Bay and 60 m west of the village of Kaktovik.

The Point Thomson reservoir holds an estimated 8 Tcf of natural gas and condensate. The gas represents 25% of the North Slope’s known gas resources, and could be used to partially underpin the proposed Alaska LNG project.

As of year-end 2014, Irving, Texas-based ExxonMobil and working interest owners have invested more than $2.6 billion in the development of Point Thomson, and about 70% of that amount has been spent in Alaska.