ConocoPhillips begins oil production from $1.2 billion Eldfisk North project in North Sea ahead of schedule
(WO) – The licensees of the Eldfisk Field, operated by ConocoPhillips Skandinavia AS, announced successful first oil production on the Eldfisk North Project, in the Greater Ekofisk Area of the North Sea. Oil and gas resources from the new project development are being produced ahead of schedule.
In December 2022, the Norwegian authorities approved the Eldfisk North Plan for Development and Operation (PDO), with original production start scheduled in the second quarter of 2024. Cooperation and efficiency across companies has allowed oil to flow earlier than expected.
The Eldfisk North Project comprises three 6-well subsea templates approximately 7 km from the Eldfisk Complex. The PDO included drilling of up to 14 wells, nine of which are producers. The other five will inject water into the reservoir.
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 total resource potential is in the range of 50-90 MMboe, while total capital expenditure is estimated at almost $1.24 billion, capturing cost developments for extended drilling duration, inflation, and currency exchange rates. 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.
“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,” said Steinar Våge, ConocoPhillips’ President for Europe, Middle East and North Africa.
The Eldfisk Field was discovered in 1970. The original plan for development and operation was approved in 1975. A new plan for development and operation was approved for the Eldfisk II Redevelopment Project in 2011. The Eldfisk reservoir consists of fractured chalk containing mainly oil, similar to surrounding fields in the Greater Ekofisk Area.
The Eldfisk North Project is 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%).
Lead image source: ConocoPhillips
