While news of Australia regional player Santos Ltd. likely merging with Oil Search Ltd. is making headlines around the world, Oil Search told Petroleum News this morning: "The Pikka project is ready for FID from a technical perspective, and we are continuing to pursue a variety of funding opportunities."
That statement came from Amy Burnett, U.S. media and communications manager for the company. She is based in Anchorage.
FID stands for final investment decision. The company's goal had been to have its technical, permitting and financial package for the Alaska North Slope Pikka development ready for FID by early November.
In a July 19 investor update/conference, acting CEO Peter Fredricson said the activity leading up to FID "includes the work we are currently doing on a possible joint sell-down of equity in the project (with partner Repsol), consideration of the sale of mid-stream infrastructure within the project (AIDEA has been mentioned by PN sources), and reviewing relevant markets for an appropriate level of debt financing to support the project."
- KAY CASHMAN

See full story in Aug. 8 issue of Petroleum News, available Aug. 5 at www.PetroleumNews.com


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