ExxonMobil said it has begun production at its Point Thomson project, the first company-operated project on Alaska’s North Slope.
Central pad facilities are designed to initially produce about 5,000 barrels per day (bbl/d) of condensate and 100 million standard cubic feet per day (MMscf/d) of recycled gas. The recycled gas is re-injected for future recovery. At full rate production, the facility is designed to produce up to 10,000 bbl/d of natural gas condensate and 200 MMcf of recycled gas. It is anticipated to reach that level when the west pad well is online in a few months.
The Point Thomson reservoir holds an estimated 8 trillion cubic feet of natural gas and associated condensate. The resource represents 25% of the known gas on the North Slope. Potential future development will depend on a range of factors such as business considerations, investment climate, and the fiscal and regulatory environment.
ExxonMobil and the working-interest owners have invested about $4 billion in the development of Point Thomson production facilities through 2015. About 100 Alaskan companies have contributed to the success of the project, and thousands of people worked onsite and around the state during peak construction activity.
Point Thomson is located on state acreage along the Beaufort Sea, 60 miles east of Prudhoe Bay and 60 miles west of the village of Kaktovik.
Recommended Reading
CERAWeek: Large Language Models Fuel Industry-wide Productivity
2024-03-21 - AI experts promote the generative advantage of using AI to handle busywork while people focus on innovations.
AI in Oil: Revolution’s Coming, but Tech Adoption Remains Tentative
2024-04-05 - CERAWeek experts say AI will disrupt oil and gas jobs while new opportunities will emerge as the industry braces for an AI-driven workflow transformation.
CERAWeek: AI, Energy Industry Meet at Scary but Exciting Crossroads
2024-03-19 - From optimizing assets to enabling interoperability, digital technology works best through collaboration.
The Pandora's Box of AI: Regulation or Self-governance?
2024-04-04 - Experts urge policymakers to learn from the failure to rein in the internet and move quickly to regulate AI.
TotalEnergies Rolling Out Copilot for Microsoft 365
2024-02-27 - TotalEnergies’ rollout is part of the company’s digital transformation and is intended to help employees solve problems more efficiently.