ConocoPhillips cancels billion-dollar North Sea project

ConocoPhillips has canceled a project in the North Sea where the company planned to spend around USD 2 billion to develop the field, reports newspaper Aftenbladet.

Photo: ConocoPhillips

The low oil price now makes oil company CononoPhillips cancel a billion-dollar project in the North Sea, according to Norwegian newspaper Aftenbladet.

The company planned to spend around USD 2 billion on developing the field Tommeliten Alpha in the North Sea, but these plans have now been postponed.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Banks keep tabs on offshore wind – at a safe distance

In the next ten years, more than 100 new vessels for installation and maintenance of offshore wind are needed, and the offshore wind market is growing strongly. But shipping banks continue as bystanders for the time being.

Further reading

Related articles

Latest news

See all jobs