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CommoditiesMedium•13 February 2026•

1 min read

ConocoPhillips to Invest $2.11 Billion to Restart Norway's Ekofisk Fields

Industrial pipes and valves with blue and green flames, overlaid with a green line and bar chart, on an orange background.

ConocoPhillips and its partners are set to invest approximately $2.11 billion (20 billion Norwegian crowns) to restart production at three fields within Norway's Greater Ekofisk area. This substantial project aims to extract an estimated 90-120 million barrels of oil equivalent, comprising natural gas and condensate. Production from these fields is anticipated to recommence by the end of 2028, bolstering future energy supplies. The investment targets bringing fields, which were previously shut down in 2019, back into operation to capitalize on significant remaining reserves. This strategic move underscores ConocoPhillips' commitment to expanding its production capacity and is viewed as bullish for its long-term revenue prospects. Furthermore, the project contributes to meeting global energy demand, particularly for natural gas and condensate, potentially impacting commodity prices.