The company also has filed permits for development of a second drill site in the Greater Mooses Tooth Unit (GMT2) and is considering additional NPRA exploration opportunities.
The ConocoPhillips-led CD5, GMT1, Kuparuk Drill Site 2S, and recently announced 1H NEWS (Northeast West Sak) development represent $3 billion (gross) in new North Slope projects. Peak gross combined production when all of these projects are on stream is estimated at 40,000-50,000 bo/d. ConocoPhillips says its continued focus on investment in Alaska is due in part to tax reform passed in 2013.
“This announcement is the culmination of more than 10 years of work and collaboration with key stakeholders, including the residents of the nearby village of Nuiqsut,” commented Joe Marushack, president of ConocoPhillips Alaska.
CD5 is situated within the boundaries of the NPR-A on land owned by Kuukpik Corp., the village corporation for Nuiqsut, with mineral rights owned largely by Arctic Slope Regional Corp. CD5 is part of the Colville River Unit, which is operated by ConocoPhillips Alaska with 78% interest. Anadarko Onshore E&P LLC holds 22% interest. Greater Mooses Tooth Unit also is owned 78% by ConocoPhillips and 22% by Anadarko Onshore E&P LLC.