ConocoPhillips Submitted Plan for Development & Operation for the Eldfisk North Project

Source: www.gulfoilandgas.com 5/9/2022, Location: Europe

ConocoPhillips Skandinavia AS, operator of the Greater Ekofisk Area together with our license partners, submitted a plan for development and operation (PDO) for the Eldfisk North Project to the Ministry of Petroleum and Energy.

The Eldfisk North Project is targeting additional resources in the Eldfisk Field. The development concept is a three-by-six slot subsea production system (SPS) with 14 wells, where nine are producers and five are water injectors. Eldfisk North will be tied back to the Eldfisk Complex in the North Sea. Resource potential is estimated to be in the range of 50-90 million barrels oil equivalent. The new greenfield facilities will be located about seven kilometers north of the Eldfisk Complex.

The total capital investment associated with the project is estimated to be approximately NOK 10.5 billion (USD 1.2 billion), and first production is expected in 2024. Eldfisk North greenhouse gas emissions intensity is estimated at seven kg CO2 per barrel oil equivalent.

‘We are pleased to achieve yet another development milestone in the Greater Ekofisk Area. The Eldfisk North Project will utilize spare processing and transportation capacity in existing infrastructure, reduce overall greenhouse gas emissions intensity and increase resource recovery and value creation in the Eldfisk Field’, said Steinar Våge, President Europe, Middle East and North Africa.

Contracts awarded for the project are estimated to generate approximately 4,000-4,500 jobs. More than 80 percent of the contracts’ value for both development and operations phases will go to Norwegian businesses. In sum, this will create beneficial ripple effects in many local communities.

ConocoPhillips Skandinavia AS is the operator of the Eldfisk Field in PL 018 with a 35.112 percent ownership interest, while TotalEnergies EP Norge AS (39.896 %), Vår Energi AS (12.388 %), Equinor AS (7.604 %) and Petoro AS (5.000 %) are partners.


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