Wedoany.com Report-Dec.21, ConocoPhillips Skandinavia, a unit of the U.S. energy company ConocoPhillips, together with partners Vår Energi, Orlen Upstream Norway, and Petoro, has approved the redevelopment of previously produced fields in the Greater Ekofisk Area on the Norwegian Continental Shelf.

The Previously Produced Fields (PPF) project targets three gas condensate reservoirs: Albuskjell and Vest Ekofisk in licenses PL018B/F, and Tommeliten Gamma in licenses PL044/D. Recoverable resources are estimated at 90 to 120 million barrels of oil equivalent.

These fields ceased production prior to 1998 due to infrastructure decommissioning and capacity constraints at Ekofisk. Advances in horizontal drilling and improved well positioning now enable viable recovery.

Plans for development and operation are scheduled for submission to the Norwegian Ministry of Energy in the first quarter of 2026. Capital expenditure is projected at approximately NOK 14 billion ($1.3 billion) for PL018B/F and NOK 5.5 billion ($500 million) for PL044/D.

The development includes 11 wells and four subsea templates tied back to the Ekofisk Complex through a multiphase pipeline. Initial production is anticipated in the fourth quarter of 2028, pending regulatory approvals.

Steinar Våge, President of Europe, Middle East and Africa for ConocoPhillips, commented: "Our focus is on projects with low cost of supply and increased gas delivery to Europe. We are advancing our near-field resource strategy with subsea developments in the GEA, and we value our license partners' support for the PPF project."

ConocoPhillips Skandinavia operates both licenses, holding 35.1 percent interest in PL018B/F and 28.3 percent in PL044/D. Partners include Vår Energi (52.3 percent in PL018B/F and 9.1 percent in PL044/D following recent transactions), Orlen Upstream Norway (7.6 percent in PL018B/F and 62.6 percent in PL044/D), and Petoro (5 percent in PL018B/F).

Torger Rød, Vår Energi’s COO, underlined: "The PPF project is an important development that supports Vår Energi's plan to sustain production of 350 to 400 thousand barrel of oil equivalent per day (kboepd) 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."

The initiative extends the operational lifespan of the Greater Ekofisk Area, utilizing existing infrastructure to access remaining resources efficiently.

Subsea tiebacks minimize new surface facilities, supporting cost-effective extraction and reduced environmental footprint.

Enhanced recovery from mature fields demonstrates effective reservoir management in established basins.

The project's timing aligns with anticipated processing availability at Ekofisk, optimizing integration with ongoing operations.

Joint venture collaboration combines operator expertise with partner commitments, ensuring aligned execution.

Low-cost supply characteristics position the output competitively in regional energy markets.

Future production will contribute additional volumes, primarily gas condensate, bolstering supply stability.

This redevelopment exemplifies mature asset optimization, extending economic viability through technological application.

Overall, the PPF project adds meaningful reserves while leveraging proven infrastructure in a key offshore region.