ConocoPhillips is planning a significant investment of nearly $20 billion to revitalize oil and gas production in the Ekofisk area of the North Sea, the company announced today, February 13, 2026. The project focuses on reopening the Albuskjell, West Ekofisk, and Tommeliten Gamma fields, which were originally shut down in the late 1980s.
“These are three subsea fields that can now be redeveloped due to available technology providing cost-effective solutions,” said Elisabeth Fiveland, communications manager at ConocoPhillips.
The challenge lies in extracting resources from what are known as “tight reservoirs,” where oil and gas don’t flow easily using conventional methods. The Norwegian Petroleum Directorate has previously described these reservoirs as “challenging” and has been seeking new technological approaches.
Ekofisk-feltet er fra 1969, dette bildet ble tatt i 2013.
Foto: NTB
ConocoPhillips indicated that the necessary technology is largely in place, but significant amounts of oil and gas remain unrecoverable with current methods. Industry observers suggest the potential value beneath Ekofisk could be equivalent to an entire Johan Sverdrup field, which currently produces 755,000 barrels of oil per day. Whereas ConocoPhillips did not confirm this estimate, they acknowledged the presence of substantial value.
Significant Gains Anticipated
The Norwegian Petroleum Directorate expressed satisfaction with the economically viable redevelopment solution for these previously closed fields in the Ekofisk area. “This represents valuable resources that will create significant benefits for society,” stated Arne Jacobsen, deputy director for Technology and Subsurface.
“We are seeing increasing willingness among companies to pursue this type of project,” Jacobsen added, pointing to the recent licensing of the Victoria field, which will also require the implementation of these advanced technologies.
If authorities approve ConocoPhillips’ plans, production is expected to begin in the fourth quarter of 2028, with a peak daily output of up to 36,000 barrels. This move underscores the ongoing innovation in mature field revitalization and the potential for extending the lifespan of existing energy infrastructure.
“The redevelopment creates value and strengthens energy security with new gas supplies to Europe,” said Steinar Våge, regional director for Europe and North Africa at ConocoPhillips.
Substantial Potential
Aksel Hiorth, a professor at the University of Stavanger, believes the industry is now recognizing the enormous potential in extracting previously inaccessible oil and gas.
– Much of the technology already exists, but it needs to be further developed and assembled in a cost-effective and environmentally sound manner,
– At the same time, large-scale extraction will require research and technology development,
The technology involves injecting specialized fluids into the rock formations to keep fractures open, allowing gas to flow more freely.
If the plans surrounding Ekofisk are approved, production will begin in the fourth quarter of 2028, with a daily output equivalent to 36,000 barrels.
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