ConocoPhillips and its partners have made a $1.8 billion final investment decision (FID) to proceed with a three-field tieback to the Ekofisk Complex on Norway’s side of the North Sea.
The Previously Produced Fields (PPF) is a joint redevelopment of the Albuskjell, Tommeliten Gamma and Vest Ekofisk fields. “Albuskjell and Vest Ekofisk are located in PL [production license] 018B and PL018F, while PL044 and PL044D comprise of Tommeliten Gamma in the new license structures”, ConocoPhillips Skandinavia AS said in a press release. “The three fields were shut in before end-of-life in 1998 due to decommissioning of infrastructure and limited processing capacity at Ekofisk.
“Capacity is expected to become available in the late 2020s, enabling future gas production from these fields”.
PPF targets recoverable gas condensate resources of 90-120 million barrels of oil equivalent. The plan comprises 11 wells and four new subsea templates to be connected to the Ekofisk Complex via a shared multiphase pipeline, according to Houston, Texas-based ConocoPhillips.
ConocoPhillips estimates gross investments in PLs 018B and 018F to be $1.3 billion and PLs 044 and 044D to be $500 million.
It said the development plan would be submitted to the Energy Ministry in the first quarter of 2026 and maiden production achieved in the fourth quarter of 2028.
“Our focus is on projects with low cost of supply and increased gas delivery to Europe”, said Steinar Våge, president for Europe, Middle East and Africa at ConocoPhillips. “We are advancing our near-field resource strategy with subsea developments in the GEA [Greater Ekofisk Area]”.
ConocoPhillips said that after the completion of recent ownership changes, participation in PLs 018B and 018F would consist of ConocoPhillips as operator with a 35.1 percent stake, Vår Energi ASA with 52.3 percent, Orlen SA with 7.6 percent and Norway’s state-owned Petoro AS with five percent. In PLs 044 and 044D, the ownership would consist of ConocoPhillips as operator (28.3 percent), Vår Energi (9.1 percent) and (Orlen 62.6 percent).
TotalEnergies SE has entered into an agreement selling its 39.89 percent stakes in 018B and 018F to Vår Energi, expected to be completed before the year ends. Announcing the divestments October 1, the French company also said it had completed the disposition of its 20.23 percent stakes in PLs 044 and 044D to Orlen.
“TotalEnergies continues to actively high-grade its upstream portfolio by seizing value-accretive divestment opportunities”, Jean-Luc Guiziou, senior vice president for Europe exploration and production at TotalEnergies, said in an online statement then.
“We remain fully committed to Norway, where the company holds interests in many licenses, including the producing fields in the Greater Ekofisk Area”.
Vår Energi chief operating officer Torger Rød said about the FID, “The PPF project is an important development that supports Vår Energi’s plan to sustain production of 350 to 400 thousand barrels of oil equivalent per day towards 2030 and beyond”.
“This reinforces our focused strategy by consolidating our position in the Greater Ekofisk Area and securing low-cost reserves with strong upside potential, enhancing long-term value creation”, Rød added.
Vår Energi said the redevelopment would involve “better well placement and the use of horizontal well technology allowing for better reservoir exposure and production rates, resulting in significantly increased recoverable reserves”.
To contact the author, email jov.onsat@rigzone.com
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