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>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 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 1 2 3 4 5 6

Africa Oil & Power 2019

The Africa Oil & Power conference will bring together an elite class of ministers and senior-level government…

read more >

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Argentina Oil and Gas Expo 2019

The Argentine Oil and Gas Institute (IAPG) organizes the Argentina Oil & Gas Expo bringing together the most…

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