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>

<< Oct 2019 >>
MTWTFSS
30 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

Executive Oil Conference & Expo 2019

Executive Oil Conference and Exhibition is a unique opportunity to meet with all of the region’s…

read more >

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

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