BP and Exxon Mobil produce massive amounts of oil in Alaska and have discovered huge gas resources that are stranded in the North Slope, which the proposed LNG project would allow that gas to access markets around the world.
A letter from the energy minister says seismic data indicates Eni's Sankofa offshore field, which entered production in 2017, and Springfield’s recently discovered Afina Field have “identical reservoir and fluid properties.”
Mark Bynoe, the director of the Department of Energy, said the country’s crude production averages between 75,000-80,000 barrels per day (bbl/d) and is expected to ramp up to 120,000 bbl/d by early June.
The startup of production is now expected in fourth-quarter 2021.
The Anglo-Dutch company slashed its 2020 spending plans by a fifth as measures to halt the spread of the virus led to an unprecedented drop in oil demand and sent oil prices to their lowest in two decades.
Peregrino is Equinor’s largest offshore operation outside Norway, and produces 70,000 to 80,000 barrels per day of oil, according to the company’s website.
Payara’s startup had been slated for “as early as 2023” and was expected to eventually produce some 220,000 barrels per day (bbl/d) of crude, according to Exxon’s website.