Ekofisk, Eldfisk area granted life extension

Norway’s Parliament (Storting) has approved ConocoPhilips’ Ekofisk South and Eldfisk II development plans.

Offshore staff

STAVANGER, Norway – Norway’s Parliament (Storting) has approved ConocoPhilips’ Ekofisk South and Eldfisk II development plans. They are designed to access a further 450MMboe of reserves on the Ekofisk and Eldfisk fields in the southern Norwegian North Sea. These approvals suggest the areas will remain in for production for several more decades.

Ekofisk was the country’s first producing oil field when operations started on this day in 1971.

The $4.6-5.5-billion program for Ekofisk South involves adding a new 36-slot wellhead platform with a 40-year design life - 2/4 Z – capable of producing 70,000 boed. It will be bridge-linked to the existing Ekofisk complex. The plan also calls for installation of a seabed facility (2/4VB) gathering eight water injection wells.

Ekofisk South should lift the recovery rate from the Ekofisk field from 49.5 to 52%, equivalent to 25-35 MMcm.
Eldfisk II will feature a new integrated wellhead, process and living quarters platform, Eldfisk 2/7 S, with a similar design life and production capacity, connected to the existing Eldfisk field complex. Eldfisk has been in production since 1979.

Forty new production/water injection wells are expected to be drilled from 2/7 S, which will also facilitate extended use of platforms already in service on the Eldfisk and Embla fields. Two new wells will be drilled from the existing 2/7 A platform.

Eldfisk II should raise the recovery rate from the Eldfisk field from 22 to 28.5 percent (35-45 MMcm). The investment here is estimated at $6.4-7.4 billion.

Ekofisk South should start up in late-2013 and Eldfisk II in 2015.

In 2010, production from the Greater Ekofisk Area averaged 264,000 boe/d.

ConocoPhillips operated production license 018, in partnership with Total E&P Norge, Eni Norge, Statoil Petroleum, and Petoro.

06/09/2011

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