Norway gives its blessing for $1.8 billion subsea redevelopment project

May 8, 2026, by Melisa Cavcic

ConocoPhillips Skandinavia, a subsidiary of the U.S. energy giant ConocoPhillips, has made inroads in clearing regulatory requirements for its redevelopment project on the Norwegian Continental Shelf (NCS).

Norway’s Ministry of Energy has approved the plans for development and operation (PDO) for the Previously Produced Fields (PPF) project in the Greater Ekofisk Area (GEA), following a final investment decision (FID) for the redevelopment, which was disclosed in December 2025.

ConocoPhillips, which claims that the approval marks an important step in the area’s continued development and supports increased gas deliveries to Europe, operates the project with Vår Energi, Orlen Upstream Norway, and Petoro as its partners.

The project’s capital investment is approximately NOK 14 billion (gross $1.3 billion) for PL018B/F and around NOK 5.5 billion (gross $500 million) for PL044/D.

Green light for $1.8 billion oil redevelopment in Norwegian waters

Exploration & Production

The PPF project is a joint redevelopment of the three previously produced fields, Albuskjell and Vest Ekofisk in licenses PL018B/F and Tommeliten Gamma in licenses PL044/D, with recoverable gas condensate resources estimated at 90 to 120 million barrels of oil equivalent (boe).

These fields will be brought back on stream through a subsea development solution tied back to the Ekofisk Complex using existing infrastructure, strengthening gas exports to Europe. The first production is planned for the fourth quarter of 2028.

Subsea7 to go offshore to recently sanctioned Norwegian oil redevelopment in 2027

Project & Tenders

The project, which comprises 11 new wells from four subsea templates, tied back via a shared pipeline, is expected to deliver between 90 and 120 million barrels of oil equivalent in recoverable gas and condensate resources.

Steinar Våge, ConocoPhillips’ President, Europe and North Africa, commented: “By utilizing existing infrastructure, we can produce substantial resources at low cost, and these approvals are important milestones for the PPF project and our long-term commitment in the Ekofisk area, while at the same time strengthening gas exports to Europe.”