The licensees of the Eldfisk Field, operated by ConocoPhillips Skandinavia AS, announce successful first oil production on the Eldfisk North Project, located in the Greater Ekofisk Area in the North Sea. Oil and gas resources from the new project development are being produced some weeks ahead of plan.
The total resource potential is in the range of 50-90 million barrels of oil equivalent while total capital expenditure is estimated at almost NOK 13 billion (USD 1.24 billion), capturing cost developments for extended drilling duration, inflation, and currency exchange rates. The project has created approximately 4,000-4,500 jobs, and more than 80% of the total contract value has been awarded to Norwegian businesses.