The four audited POSL financial statements filed in the supplemental filing, dated June 9, were for years ending Dec.31, 2018 Dec. In further support of its application and motion for waiver, OSU provided copies of the audited financial statements for POSL, noting that OSU was a wholly owned subsidiary of POSL and that POSL was willing to provide a parent company guaranty of its common carrier obligations under AS 42.06. In support of this assertion, OSU referred to the verified written statement of Troy Herrera who certified that the unaudited OSU financial statements were accurate. OSU further asserted that the submitted financial statements had been verified and certified for accuracy. In lieu of audited financial statements, OSU filed three years of unaudited financial statements, asserting that the financial statements filed were comparable to the financial statements required by RCA regulations “as they substantially set forth OSU’s financial status and detail its assets and liabilities.” OSU supplemented the application on June 9. The agency received no comments or competing applications. RCA issued a public notice of the application, motion for waiver, and petition for confidential treatment on April 28, with comments due by May 19, and notice of intent to file a competing application due by May 30. Plus, OSU and POSL filed a petition for confidential treatment of financial statements submitted with the application. With its application, OSU filed a motion for waiver of this requirement. The sales line will be located on the Pikka and Seawater Treatment Plant pipeline support racks when present and connect the NPF, via the TIP, and terminate at the Kuparuk Pipeline Extension, or KPE, Tie-in Point.įinancial statement waiverFor an existing business, RCA regulations require submission of the two most recent years of independently audited financial statements with a pipeline carrier application for new construction. The sales line will be approximately 22.2 miles long and consist of a 16-inch diameter pipe from Pikka’s Nanushuk processing facility, or NPF, to the tie-in pad, or TIP, and a 12-inch pipeline from the TIP to the Kuparuk Pipeline. Oil Search estimates the minimum engineering design life of the Pikka Sales Oil Pipeline will be 30 years. Pikka Phase 1 involves a single drill site subsequent phases are expected to add two more drill sites and increase output to a maximum of 160,000 bpd. “In the matter of the (April 21) application filed by Oil Search (USA), or OSU, for a certificate of public convenience and necessity to construct and operate a common carrier oil pipeline (Pikka Sales Oil Pipeline), for approval of connection, and for approval of connection agreement,” RCA’s June 16 order approved a petition for confidential treatment of financial statements, addressed the decision timeline and re-designated the commission panel.Īnother Santos subsidiary, Oil Search (Alaska), is on the ground working on Phase 1 of the Pikka project, which is expected to bring 80,000 barrels of oil online shortly after startup in 2025.Įighty thousand barrels of oil per day represents a 25% increase in flow through the 800-mile trans-Alaska pipeline system.
was issued June 16 by the Regulatory Commission of Alaska, moving Oil Search’s North Slope Pikka project that much closer to first oil in 2025. Regulatory Commission of Alaska says yes to Santos-owned firms requestsĪn order granting requests by Oil Search (USA) and its parent Papuan Oil Search Ltd. Providing coverage of Alaska and northern Canada's oil and gas industry
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