ConocoPhillips Revives Mature North Sea Fields with $2 Billion Investment
ConocoPhillips and its partners are poised to unlock an estimated 90-120 million barrels of oil equivalent from the Albuskjell, Vest Ekofisk, and Tommeliten Gamma fields in the Greater Ekofisk Area of the North Sea. The project, requiring approximately $2 billion (NOK 19.5 billion) in investment, marks a significant redevelopment of fields previously shut down in 1998 due to infrastructure limitations.
Addressing the Challenge of ‘Tight Reservoirs’
The revitalization hinges on advancements in technology capable of extracting resources from “tight reservoirs” – formations where oil and gas don’t flow easily. These reservoirs presented a challenge previously, requiring new approaches to make production viable. The Norwegian Petroleum Directorate has actively encouraged the development of such technologies.
The project will involve the installation of four subsea templates and the drilling of 11 wells, all tied back to the existing Ekofisk Complex via a shared multiphase pipeline. Albuskjell will feature two subsea templates and six wells, while Vest Ekofisk and Tommeliten Gamma will each have one template with three and two associated wells, respectively.
Boosting Europe’s Energy Security
First gas is anticipated in the fourth quarter of 2028, pending regulatory approvals, with peak production expected to reach 36,000 barrels of oil equivalent per day. Steinar Våge, President, Europe and North Africa for ConocoPhillips, emphasized the project’s contribution to Europe’s energy security through increased gas supply.
The investment breakdown allocates approximately $1.47 billion (NOK 14 billion) to Albuskjell and Vest Ekofisk, and $580 million (NOK 5.5 billion) to Tommeliten Gamma. Project execution is forecasted to generate around 5,900 jobs, with over 80% of awarded contracts going to Norwegian companies.
A Second Life for Mature Assets: The Trend of Field Redevelopment
This redevelopment exemplifies a growing trend in the oil and gas industry: breathing new life into mature assets. As easily accessible resources dwindle, companies are increasingly focusing on maximizing recovery from existing fields through technological innovation. The Greater Ekofisk Area, with its established infrastructure, provides a favorable environment for such projects.
The success of projects like Tor II, Tommeliten A, and Eldfisk North, which have added nearly 400 million barrels of oil equivalent to the Greater Ekofisk Area, demonstrates the potential of subsea development factories. The PPF Project builds on this foundation, showcasing the viability of redeveloping previously produced fields.
Technological Advancements Driving Renewed Production
Advanced well technology and more efficient subsea concepts are central to the viability of the PPF project. Techniques such as enhanced oil recovery (EOR) and improved drilling methods are enabling operators to access resources previously considered uneconomical. The utilize of multiphase pipelines further optimizes production and reduces costs.
The fields are located in PL018B and PL018F (Albuskjell and Vest Ekofisk), and PL044 and PL044D (Tommeliten Gamma).
FAQ
Q: When is first gas expected from the PPF project?
A: First gas is expected in the fourth quarter of 2028, subject to regulatory approvals.
Q: What is the estimated peak production from the project?
A: Peak production is anticipated to reach 36,000 barrels of oil equivalent per day (gross).
Q: How much investment is planned for each field?
A: Approximately NOK 14 billion is planned for Albuskjell and Vest Ekofisk, and NOK 5.5 billion for Tommeliten Gamma.
Q: What is the estimated recoverable resource?
A: The estimated recoverable gas and condensate resources are 90–120 million barrels of oil equivalent.
Q: How many jobs are expected to be created?
A: The project is expected to create around 5,900 jobs during execution.
