BlueCrest Energy’s Cosmopolitan field in the Cook Inlet Basin of Alaska is projected to become major project for the company, according to a report by GlobalData.

Entitled 'US – Alaska Cosmopolitan Project Panorama – Oil and Gas Upstream Analysis Report Project Update', the report provides details of the field’s production profile and future outlook.

Discovered in 1967, the Cosmopolitan field consists of both an oil-rich and a gas reservoir. The oil reservoir currently in development produced its first oil in April 2016 at a rate of 700bpd.

"The wells are planned to be fractured in order to boost productivity."

Directional wells drilled from an onshore drilling rig are being used to develop the field. The wells are planned to be fractured in order to boost productivity. Production at the field is expected to peak in 2021 at 17,000bpd. BlueCrest plans to drill ten additional wells by 2022.

The project’s gas reservoir development is in the preliminary design phases and is currently on hold until confirmation of future tax credit programme eligibility. The development is expected to be carried out through two shallow water platforms tied back to onshore facilities through subsea pipelines.

BlueCrest has already discussed with a number of companies on long-term gas sales arrangements, including Agrium for an average demand of 40 million of cubic feet a day.