Norwegian authorities have granted ConocoPhillips approval for the beginning of production at the Eldfisk North field in the North Sea. The project is valued at US$1.24bn.
Start-up is expected to take place in the first quarter of 2024. The field is anticipated to hold between 50 and 90 million barrels of oil.
Eldfisk North is tied back to the Eldfisk complex featuring 14 wells, nine for production and five for injection.
ConocoPhillips is the operator of the project with a 35.1% share in the production licence 018. Partners in Eldfisk North are TotalEnergies (39.9%), Vår Energi (12.4%), Sval Energi (7.6%) and Petoro (5%).
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