Milne point to produce in 1986
Journal Article
·
· Alaska Constr. Oil; (United States)
OSTI ID:5550222
Conoco Inc. and four partners have committed $312 million in the first of four phases to bring the Milne Point oil reserves into production. Production will start in early 1986 at an expected peak rate of 30,000 bbl. a day. Results from 18 delineation wells drilled in 1983 convinced the Houston-based company that the 21,000-acre unit has commercial potential. Conoco acquired the Milne Point unit in a 1969 state lease sale. The field, 35 miles northwest of Prudhoe Bay, is an extension of the Kuparuk formation. Development will stretch over eight years at a cost of $787 million. Phase one involves drilling 24 more wells from two wellpads. Thirty wells will be drilled under phase two. Both phases will involve the Kuparuk formation. The later phases will develop the Upper Cretaceous Sands. Conoco is looking at about 20 million bbl. of oil reserves in the Kuparuk development.
- OSTI ID:
- 5550222
- Journal Information:
- Alaska Constr. Oil; (United States), Journal Name: Alaska Constr. Oil; (United States) Vol. 25:4; ISSN ACOID
- Country of Publication:
- United States
- Language:
- English
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