ConocoPhillips shelves $2B oil field development in Norway

ConocoPhillips has decided to cancel the development project for the Tommeliten Alpha discovery, offshore Norway.

According to Aftenbladet, a Stavanger-based paper, the company has decided to shelf the $2 billion development in the Norwegian North Sea due to the low oil prices.

The newspaper says it believes that ConocoPhillips’ partners in the project, Statoil and Total, pushed for the project to be halted.

According to the Norwegian Petroleum Directorate, the Tommeliten Alpha discovery contains gas and condensate in three levels of Paleocene and Cretaceous chalk. The reservoir lies at a depth of about 3 000 metres. Four wells have been drilled on the discovery, the last one in 2003.

The field was to be developed by re-using of the Huldra field topsides on a new build steel jacket with tie-in to the Ekofisk Complex.

Back in January, ConocoPhillips told Offshore Energy Today that a possible investment decision was planned for first part of 2016, with first production slated for 2019.

Offshore Energy Today has reached out to ConocoPhillips seeking confirmation that the project is indeed cancelled, but we haven’t received a reply at the time of publication

 

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Jan 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

FPSO Roundtables 2018

The entire FPSO value chain is now critically aware of how conventional modes of cooperation and project delivery must change in light…

read more >

International Petroleum (IP) Week 2018

International Petroleum (IP) Week, hosted by the Energy Institute (EI) is a renowned and highly respected event where leaders from the global…

read more >

8th Myanmar Oil, Gas & Power Summit

The Myanmar Oil and Gas Summit is the longest established Oil & Gas event in Myanmar. Every year the event is attended by government…

read more >

FPSO Europe Congress 2018

The FPSO Europe Congress 2018 builds on these themes, lending a particular focus to FPSO Value Preservation and Operational Excellence…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply