ConocoPhillips and partners to invest $2 billion in Greater Ekofisk gas project

ConocoPhillips and its partners plan to invest 20 billion Norwegian crowns to restart production at three offshore fields. The project targets late 2028.

Insights:
ConocoPhillips and its partners have announced a plan to invest approximately 20 billion Norwegian crowns, or roughly $2.11 billion, to restart production at three previously shut fields in the Greater Ekofisk area of Norway NONO. The investment, part of the Previously Produced Fields (PPF) project, focuses on the Albuskjell, Vest Ekofisk, and Tommeliten Gamma fields, which were originally shut in 2019. This near-term capital commitment is expected to result in first gas by the fourth quarter of 2028, with the entire project scheduled for completion by the end of that year.
FILE PHOTO: The logo of American oil and natural gas exploration and production company ConocoPhillips is seen during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo
FILE PHOTO: The logo of American oil and natural gas exploration and production company ConocoPhillips is seen during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo
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