Insight
Alaska upstream: 2023 in review
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Report summary
Alaska production declined but was offset somewhat by strong performance at Hilcorp's Milne Point and new well starts at ConocoPhillips' Coyote field which ties back into Kuparuk River. Active rigs have now settled post 2020-2021 downward at ten rigs. The biggest news of the year came late in December as ConocoPhillips formally sanctioned the Willow project in the NPR-A. The project was delayed following legal challenges of the Environmental Impact Statement but a reduced footprint development was ultimately re-approved on 13 March 2023. Construction activities had already ramped up for this winter construction season, joining Pikka development which is also under construction. We take a look at the key events and trends across exploration, leasing, production and rig activity in this review of the year.
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Executive summary
- 2023 in review – a global upstream series
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