ConocoPhillips received the go-ahead to start up production at its Eldfisk Nord project in the North Sea, the Norwegian Offshore Directorate said Feb. 28.

The $1.24 billion Eldfisk Nord project includes two seabed templates for production and one for water injection, serving a total of nine production wells and five injection wells in 230 ft water depth. Start-up is expected during the first quarter of 2024.

Illustration of the Eldfisk Nord project. (Source: ConocoPhillips)

ConocoPhillips is targeting 50 MMbbl to 90 MMbbl of reserves with the project.

The Eldfisk Field is in Block 2/7 and is part of the Greater Ekofisk Area. Eldfisk Nord will help increase the recovery rate from the Ekofisk and Tor formations.

Eldfisk was discovered in 1970, and the plan for development and operation (PDO) was approved in 1975. An amended PDO for Eldfisk, including the development of resources in Eldfisk Nord, was approved in December 2022.

ConocoPhillips operates PL 018 on behalf of partners TotalEnergies, Vår Energi, Sval Energi and Petoro.