ConocoPhillips secures licence extension off Norway

ConocoPhillips has secured a 20-year licence extension at the Greater Ekofisk oil and gas area off the coast of Norway, it announced on April 19.

The extension, granted by Norway's petroleum ministry, will enable Conoco to keep working at the area, comprising the Ekofisk, Eldfisk and Embla fields, until 2048. Conoco operates the licence with a 35% interest, while TotalEnergies has 40%, Var Energi 12.4%, Equinor 7.6% and Petoro 5%.

Conoco said by extending the licence, Norway's government "acknowledges significant remaining potential for resource development and new projects in the Greater Ekofisk area," which serves as a key hub for the processing and transportation of oil and gas produced on the Norwegian shelf.