The Norwegian Petroleum Directorate has given consent for the start of production on the Conoco Phillips-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.
This will contribute to an increase in oil production of around 2.7 million standard cubic metres of oil – corresponding to 17 million barrels.
The development of 2/4 VC was approved by the Ministry of Petroleum and Energy in September 2017, as an amended Plan for Development and Operation 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 approximately NOK 2.3 billion.