Norwegian authorities approved the Plan for Development and Operation (PDO) 14 November. Planned production start for Tor II is in the fourth quarter of 2020.
'We are proud to be re-developing the Tor field. Tor II is a robust project. We are adding new production in the Greater Ekofisk Area and exploiting available processing and transport capacity,' says Jan-Arne Johansen, Norway operations Manager.
Recoverable reserves in Tor II are estimated at about 68 million barrels of oil equivalent, around 85 percent of which is oil. Total investments in Tor II are estimated at 6.1 billion kroner.
Tor II is one of several development opportunities in the Greater Ekofisk Area that will make it possible to continue efficient operations until 2050.*
ConocoPhillips is operator of Tor Unit, which consists of parts production licenses 006 and 018. The company has an ownership interest of 30.66 percent. The other licensees are Total (48.2 percent), Vår Energi (10.82 percent), Equinor (6.64 percent) and Petoro (3.69 percent).