ConocoPhillips saw first oil production Tuesday from the Eldfisk II project in Norway’s North Sea.
Eldfisk II, along with Ekofisk South and other projects offshore Norway, will add 60,000 barrels of oil equivalent per day to the company’s production volumes by 2017, Houston-based ConocoPhillips said.
The Eldfisk II project includes plans to drill 40 new production and water injection wells.
One of four pre-drilled wells is currently online, with the remaining three wells projected to come on stream this month.
Production from the field will ramp up over the next three years as additional wells are brought online.
“These projects will increase ultimate resource recovery and extend the field life of this premier legacy asset for years to come,” ConocoPhillips executive vice president of exploration and production Matt Fox said.
Eldfisk II joins Ekofisk South as the company’s second major project startup in Norway since late 2013.
ConocoPhillips operates the Greater Ekofisk Area with a 35.1 percent stake.
France’s Total 39.9 percent stake, Italy’s Eni holds a 12.4 percent stake, Norway’s Statoil holds a 7.6 percent stake and Norway-based Petoro 5.0 percent stake.