SHARE

ConocoPhillips has reportedly canceled a $2.1 billion Norwegian North Sea gas and condensate project.

The Houston-based company will not move forward with its planned Tommeliten Alpha gas and condensate development in the North Sea, Stavanger Aftenblad said Wednesday.

The field was initially discovered in 1977 and was going to be tied into the Ekofisk project.

The company was scheduled to submit a development plan for the project in early 2016, Reuters said.

ConocoPhillips has not yet commented on the report.

Norway’s Statoil holds a 42.4 percent in Tommeliten Alpha, ConocoPhillips 28.3 percent interest, France’s Total holds a 20.2 percent stake and Italy’s Eni holds a 9.1 percent stake.