CD5 is on production.
ConocoPhillips Alaska said this afternoon that CD5, within the National Petroleum Reserve-Alaska on land owned by Kuukpik Corp., is the first commercial oil development on Alaska Native lands within NPR-A.
"First oil at CD5 is a landmark for our company, Kuukpik Corporation, Arctic Slope Regional Corporation and for Alaska," said Joe Marushack, president of ConocoPhillips Alaska.
ConocoPhillips said four wells are complete at CD5, with 11 more wells planned by early 2017.
Peak gross production is anticipated at 16,000 barrels of oil per day. CD5 represents a total project investment of more than $1 billion.
- Petroleum News
See story in Nov. 1 issue, available online Friday, Oct. 30, at PetroleumNews.com.