Oct 1, 2025
Interests are being transferred in notable sectors off the coast of Norway.
TotalEnergies has sold its stakes in several mature, non-operated fields in the Greater Ekofisk area off Norway to two different buyers.
Ekofisk was Norway’s first commercial oil discovery in 1969 and the nation’s first large development, producing oil and gas for 54 years under ConocoPhillips' operation.
TotalEnergies announced the sale of its 39.89% interest in the West Ekofisk and Albuskjell fields to Vaar Energi, and its 20.23% interest in the Tommeliten Gamma field to Orlen Upstream Norway.
The financial details were not revealed.
The three fields in the Greater Ekofisk Area of the southern North Sea are being redeveloped as part of the “Previously Produced Fields project” (PPF), having been inactive since 1998. The completion of the transactions is contingent on the final investment decision of the PPF project, anticipated in the fourth quarter of 2025.
Vaar Energi indicated that the deal would add approximately 38 million barrels of oil equivalent in net proved plus probable reserves, with low operating costs and growth potential.
Production from the PPF project is expected to start by the end of 2028.
Jean-Luc Guiziou, TotalEnergies' senior vice president for exploration and production in Europe, said the company is continuously optimizing its upstream portfolio through value-enhancing divestitures.
"We are fully committed to Norway, where we maintain interests in numerous licenses, including producing fields in the Greater Ekofisk Area."
The Albuskjell and West Ekofisk fields are located in Block PL018, while Tommeliten Gamma is in PL044.
After the transaction, Vaar noted that the PL018 joint venture will consist of operator ConocoPhillips at 35.112%, Vaar Energi at 52.284%, DNO at 7.604%, and Petoro at 5%.
Ekofisk was Norway’s first commercial oil discovery in 1969 and the nation’s first large development, producing oil and gas for 54 years under ConocoPhillips' operation.
TotalEnergies announced the sale of its 39.89% interest in the West Ekofisk and Albuskjell fields to Vaar Energi, and its 20.23% interest in the Tommeliten Gamma field to Orlen Upstream Norway.
The financial details were not revealed.
The three fields in the Greater Ekofisk Area of the southern North Sea are being redeveloped as part of the “Previously Produced Fields project” (PPF), having been inactive since 1998. The completion of the transactions is contingent on the final investment decision of the PPF project, anticipated in the fourth quarter of 2025.
Vaar Energi indicated that the deal would add approximately 38 million barrels of oil equivalent in net proved plus probable reserves, with low operating costs and growth potential.
Production from the PPF project is expected to start by the end of 2028.
Jean-Luc Guiziou, TotalEnergies' senior vice president for exploration and production in Europe, said the company is continuously optimizing its upstream portfolio through value-enhancing divestitures.
"We are fully committed to Norway, where we maintain interests in numerous licenses, including producing fields in the Greater Ekofisk Area."
The Albuskjell and West Ekofisk fields are located in Block PL018, while Tommeliten Gamma is in PL044.
After the transaction, Vaar noted that the PL018 joint venture will consist of operator ConocoPhillips at 35.112%, Vaar Energi at 52.284%, DNO at 7.604%, and Petoro at 5%.