ConocoPhillips and its partners are set to invest Nkr6 billion ($705 million) to redevelop the Tor field off Norway as a subsea tie-back to its Ekofisk field centre in the North Sea under a development plan filed with the authorities.
The US supermajor intends to exploit additional volumes of between 60 million and 70 million barrels of oil equivalent from the field, with resource potential of up to 100 million boe, under the so-called Tor 2 project that is due for start-up in the fourth quarter of 2020.
