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.

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