Norway’s Ministry of Petroleum and Energy (MPE) has extended production licenses in the Greater Ekofisk Area from 2028 to 2048 with ConocoPhillips as operator. The company said the license extension provides long-term operations and resource management aligned with the company’s long-term perspective on the Norwegian continental shelf.
Fields on the shelf are required to operate with a valid production license where the operator and licensees enter into an agreement with the authorities, including relevant field activities. The authorities may require commitments, leading to increased oil recovery. The existing production licenses 018, 018 B, and 275 in the Greater Ekofisk Area were set to expire on 31 December 2028; however, the MPE approved an extension through 2048. The new terms provide a potential for extending Ekofisk’s lifetime to nearly 80 years.
The license partners are ConocoPhillips (operator, 35.11%), TotalEnergies EP Norge (39.896%), Vår Energi (12.388%), Equinor (7.604%), and Petoro (5%).