ANCHORAGE, Alaska — A company seeking to develop a large oil project on Alaska’s North Slope has won a key federal permit.
Alaska’s Energy Desk reports that Papua New Guinea-based Oil Search says it has received a permit from the U.S. Army Corps of Engineers for its Pikka development. The planned development is west of Prudhoe Bay.
The permit is one of many the project will need to move forward. The company also needs dozens of state and local permits.
Oil Search estimates the project could produce about 120,000 barrels of oil per day. The trans-Alaska pipeline system currently pumps about 500,000 barrels a day.
The proposed development is in an area seen as a new hot spot for oil activity on the western North Slope.
The Associated Press