By Euro Weekly News Media • 11 March 2017 • 17:29
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SPANISH oil and gas company Repsol and their partner Armstrong Energy have made the largest US onshore conventional hydrocarbons discovery in 30 years in Alaska.
The resources identified amount to approximately 1.2 billion barrels of recoverable light oil.
It is anticipated that production will start from 2021, with a potential rate approaching 120,000 barrels of oil per day.
Repsol has been actively exploring Alaska since 2008.
Repsol holds a 25% working interest in the Horseshoe discovery and a 49% working interest in the Pikka unit. Armstrong holds the remaining working interest and is currently the operator.
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