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
New Permian Math: Vital Energy and 42 Horseshoe Wells
2024-05-10 - Vital Energy anticipates making 42 double-long, horseshoe-shaped wells where straight lines would have made 84 wells. The estimated savings: $140 million.
SM Energy Targets Prolific Dean in New Northern Midland Play
2024-05-09 - KeyBanc Capital Markets reports SM Energy’s wells “measure up well to anything being drilled in the Midland Basin by anybody today.”
Vår Selling Norne Assets to DNO
2024-05-08 - In exchange for Vår’s producing assets in the Norwegian Sea, DNO is paying $51 million and transferring to Vår its 22.6% interest in the Ringhorne East unit in the North Sea.
Crescent Energy: Bigger Uinta Frac Now Making 60% More Boe
2024-05-10 - Crescent Energy also reported companywide growth in D&C speeds, while well costs have declined 10%.
SLB OneSubsea JV to Kickstart North Sea Development
2024-05-07 - SLB OneSubsea, a joint venture including SLB and Subsea7, have been awarded a contract by OKEA that will develop the Bestla Project offshore Norway.