ConocoPhillips and its partners will invest some NOK20 billion ($2.11 billion) to restart production at three fields in the Greater Ekofisk area by the end of 2028, plans presented to the Norwegian government showed on Friday.
The project, called the previously produced fields (PPF), aims to extract more hydrocarbons from late-life Albuskjell, Vest Ekofisk, and Tommeliten Gamma fields that were shut in 2019.
ConocoPhillips estimates that the fields, which span several offshore licences, still hold some 90 million-120 million barrels of oil equivalent in natural gas and condensate.
The company has a 35.1 per cent stake in Albuskjell and Vest Ekofisk, and 28.3 per cent in Tommeliten Gamma.
Other partners in Albuskjell and Vest Ekofisk are Vaar Energi with 52.3 per cent, Orlen Upstream with 7.6 per cent and state-owned Petoro with five per cent. Orlen and Vaar have 62.6 per cent and 9.1 per cent in Tommeliten Gamma, respectively.
The first gas production is expected to start in the final quarter of 2028.
(Reporting by Nerijus Adomaitis and Nora Buli, editing by Terje Solsvik)
