ConocoPhillips received the go-ahead to start up production at its Eldfisk Nord project in the North Sea, the Norwegian Offshore Directorate said Feb. 28.
The $1.24 billion Eldfisk Nord project includes two seabed templates for production and one for water injection, serving a total of nine production wells and five injection wells in 230 ft water depth. Start-up is expected during the first quarter of 2024.
ConocoPhillips is targeting 50 MMbbl to 90 MMbbl of reserves with the project.
The Eldfisk Field is in Block 2/7 and is part of the Greater Ekofisk Area. Eldfisk Nord will help increase the recovery rate from the Ekofisk and Tor formations.
Eldfisk was discovered in 1970, and the plan for development and operation (PDO) was approved in 1975. An amended PDO for Eldfisk, including the development of resources in Eldfisk Nord, was approved in December 2022.
ConocoPhillips operates PL 018 on behalf of partners TotalEnergies, Vår Energi, Sval Energi and Petoro.
Recommended Reading
Equitrans Midstream Announces Quarterly Dividends
2024-04-23 - Equitrans' dividends will be paid on May 15 to all applicable ETRN shareholders of record at the close of business on May 7.
PrairieSky Adds $6.4MM in Mannville Royalty Interests, Reduces Debt
2024-04-23 - PrairieSky Royalty said the acquisition was funded with excess earnings from the CA$83 million (US$60.75 million) generated from operations.
Baker Hughes Awarded Saudi Pipeline Technology Contract
2024-04-23 - Baker Hughes will supply centrifugal compressors for Saudi Arabia’s new pipeline system, which aims to increase gas distribution across the kingdom and reduce carbon emissions
EQT Declares Quarterly Dividend
2024-04-18 - EQT Corp.’s dividend is payable June 1 to shareholders of record by May 8.
Matador Resources Announces Quarterly Cash Dividend
2024-04-18 - Matador Resources’ dividend is payable on June 7 to shareholders of record by May 17.