The Nuna Project is an onshore development project located just east of the Colville River and approximately five miles southwest of the Ooogururk field. Inupiat for “on-land,” Nuna has an estimated net resource potential of 75-150 million barrels of oil and peak production of 15,000 – 18,000 barrels of oil per day. Nuna involves the development of the Torok reservoir, the shallowest of three oil-bearing reservoir systems in the Oooguruk.
Caelus sanctioned the project in 2015 but has since slowed its development due to low oil prices and the resulting political uncertainty over the state’s oil tax credits.
Nuna involves the construction of a new onshore gravel well pad, drilling multiple new wells from the pad, and hooking the new production into an existing onshore tie-in between Oooguruk and the neighboring Kuparuk field infrastructure. The development is expected to total $1.4 billion. Caelus secured royalty relief from the state to improve the project’s financial viability.
Nuna will employ hundreds of Alaskans during construction and operation, and is estimated to deliver more than $1 billion in royalties and taxes to Alaska over the life of the project. Nuna represents a significant economic benefit to Alaska and Alaskans alike.