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. Preliminary development concepts show that first production there, from 2021, could operate at a potential rate of 120,000 barrels per day.