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Feb 13, 2026 12:01 PM

ConocoPhillips Greenlights Subsea Gas Development, Approves $1.8 Billion Project

ConocoPhillips (NYSE:COP) on Friday disclosed that its subsidiary, ConocoPhillips Skandinavia AS, and its partners had approved the final investment decision for the Previously Produced Fields (PPF) Project in the Greater Ekofisk Area.

The development and operation plans for PL018B/F and PL044/D are expected to be submitted to the Norwegian Ministry of Energy in the first quarter of 2026.

Details

The company expects the project's capital investment to be around NOK 14 billion ($1.3 billion) for PL018B/F and about NOK 5.5 billion (gross $500 million) for PL044/D.

The joint development concept includes 11 wells and four new subsea templates; all tied back to the Ekofisk Complex via a ...