The Norwegian Petroleum Directorate (NPD), a government petroleum regulator, has given its consent for the start up on the ConocoPhillips-operated installation Ekofisk 2/4 VC in the North Sea.
This development comprises a subsea template with four well slots and the drilling of four wells for water injection, the directorate said on Thursday.
It will contribute to an increase in oil production of around 2.7 million standard cubic meters of oil – corresponding to 17 million barrels.
The development of 2/4 VC was approved by the Ministry of Petroleum and Energy on September 7, 2017, as an amended Plan for Development and Operation (amended PDO) for Ekofisk south. The amended PDO was approved without conditions.
Current resource and cost estimates are in line with what was presumed when the amended PDO was approved. Investments are calculated at approx. NOK 2.3 billion ($287.7M).