Norway’s Ministry of Energy has approved ConocoPhillips’ plan to redevelop three closed oil and gas fields. The project targets the Albuskjell, Vest Ekofisk, and Tommeliten Gamma fields in the Greater Ekofisk area.
The redevelopment represents a capital investment of approximately $2.16 billion (NOK 20 billion). These fields are expected to yield between 90 million and 120 million barrels of oil equivalent.
Production is scheduled to commence in the fourth quarter of 2028. ConocoPhillips will utilize existing infrastructure to maintain low operational costs. The company will export the produced gas primarily to Germany to strengthen European energy security.