The successive campaigns in the area have added significant new potential to what was previously viewed as a mature basin. Repsol and partner Armstrong Energy have made the largest US onshore conventional hydrocarbons discovery for 30 years. Based on data from Repsol, the Nanushuk play in Alaska could amount to approximately 1.2bn barrels of recoverable light oil. The company has also announced that it will invest $US1 billion over five years into a new offshore oil field off the coast of Papua New Guinea.
Repsol and partner Armstrong Energy have made the largest US onshore conventional hydrocarbons discovery for 30 years. Based on data from Repsol, the Nanushuk play in Alaska could amount to approximately 1.2bn barrels of recoverable light oil. The company has also announced that it will invest $US1 billion over five years into a new offshore oil field off the coast of Papua New Guinea.