Oil & Gas

06 May 2024

Conocophillips Reaches First Oil at Norway’s Eldfisk North Ahead of Schedule

06 May 2024  by energyvoice   
ConocoPhillips Skandinavia has announced successful first oil production at its Eldfisk North project in the Norwegian North Sea.

Located in the Greater Ekofisk Area, ConocoPhillips said oil and gas resources from the project are being produced “some weeks ahead of plan”.

The US energy giant, along with companies including Var Energi, are developing the £890 million Eldfisk North project, targeting up to 90 million barrels of oil.

A tieback to the main Eldfisk field, close to the UK border, the development and operation plan was approved by Norwegian authorities in 2022, with its licence extended to 2049.

Announcing the start of production, ConocoPhillips president for Europe, Middle East and North Africa Steinar Våge said: Sound and productive collaboration among our employees and the many contractors and business partners has contributed to strong safety results with zero personnel injuries, delivering yet another successful project ahead of schedule.”

Eldfisk North

The Eldfisk North Project comprises three 6-well subsea templates located approximately seven kilometers from the Eldfisk Complex.

The PDO included drilling of up to 14 wells, with nine being producers and the other five will inject water into the reservoir.

Conoco said the Eldfisk North Project will use available capacity at Eldfisk 2/7 S for processing and transportation, utilizing existing infrastructure in the Greater Ekofisk Area.

The US company estimates total resource potential is in the range of 50-90 million barrels of oil equivalent while total capital expenditure is estimated at almost NOK 13 billion (USD 1.24 billion), capturing cost developments for extended drilling duration, inflation, and currency exchange rates.

Conoco said the project has created approximately 4,000-4,500 jobs, and more than 80% of the total contract value has been awarded to Norwegian businesses.

The Eldfisk North Project is located in PL018, and the licensees are TotalEnergies EP Norge AS (39.896%), ConocoPhillips Skandinavia AS (35.112%), Vår Energi ASA (12.388%), Sval Energi AS (7.604%) and Petoro AS (5.000%).


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