ConocoPhillips plans $2B investment in Ekofisk fields
ConocoPhillips and its partners plan to invest around $2 billion to restart production at three offshore fields in Norway’s Greater Ekofisk area.
The project, known as Previously Produced Fields (PPF), aims to revive output from the late-life Albuskjell, Vest Ekofisk and Tommeliten Gamma fields, which were shut down in 2019, News.Az reports, citing Reuters.
The companies estimate the fields still contain between 90 million and 120 million barrels of oil equivalent, mainly natural gas and condensate.
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ConocoPhillips holds a 35.1% stake in Albuskjell and Vest Ekofisk and 28.3% in Tommeliten Gamma. Other partners include Vaar Energi, Orlen Upstream and Norway’s state-owned Petoro, depending on the field.
The project targets first gas production by the fourth quarter of 2028, extending the life of mature North Sea assets and supporting regional energy supply.
By Aysel Mammadzada
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