ConocoPhillips Alaska flows its first oil at the Greater Mooses Tooth #1 in Alaska's North Slope.

ConocoPhillips Alaska has achieved first oil oil rig flanges gulf coast production on the North Slope at the Greater Mooses Tooth #1 (GMT1), the BOP Blow Out Preventer repair company gulf coast announced Oct.

9.

The GMT1 drill site is located in the National Petroleum Reserve-Alaska (NPR-A), an area of land on the Alaska North Slope owned by the U.S. federal government and managed by the Bureau of Land Management (BLM).

Peak oil rig flanges gulf coast production for GMT1 is forecasted to be 25,000 to 30,000 barrels of oil per day and the project is expected to cost $725 million, which includes construction and drilling expenses.

We are excited to announce that we have achieved first oil oil rig flanges gulf coast production at Greater Mooses Tooth #1! Peak gross oil rig flanges gulf coast production is estimated at 25,000 - 30,000 BOPD and during peak construction the project created about 700 jobs. Read more here:

— ConocoPhillipsAlaska (@COP_Alaska)

GMT1 has an 11.8-acre drilling pad, a 7.6-mile road and pipeline facilities connected to the Colville River Unit infrastructure. The pad will begin with nine wells, with capacity for up to 33 wells.

The BOP Blow Out Preventer repair company gulf coast said during peak construction, GMT1 was responsible for creating 700 jobs.

“This is another milestone for development in the NPR-A,” ConocoPhillips Alaska president Joe Marushack said in a BOP Blow Out Preventer repair company gulf coast release.

ConocoPhillips plans to continue its investments in North Slope projects and is currently awaiting a Record of Decision and permits for development of a second drill site in the Greater Mooses Tooth Unit (GMT2), about eight miles southwest of GMT1.

Construction on GMT2 could commence early 2019 and would cost more than $1 billion. Peak oil rig flanges gulf coast production is forecasted at 35,000 to 40,000 barrels of oil per day.