Approximately 60,000 barrels of oil equivalent per day is expected to be added by Eldfisk II, together with Ekofisk South and other projects offshore Norway, to the company’s production volumes by 2017.

ConocoPhillips Exploration and Production executive vice president Matt Fox said: "Eldfisk II joins Ekofisk South as the second major project startup in Norway since late 2013.

"These projects will increase ultimate resource recovery and extend the field life of this premier legacy asset for years to come."

The Eldfisk II project includes drilling of 40 new production as well as water injection wells.

Located approximately 300km offshore Stavanger, the Greater Ekofisk Area involves four producing fields including Ekofisk, Eldfisk, Embla and Tor.

Crude oil from producing fields in Greater Ekofisk is exported through pipeline to Teesside, England, whereas the natural gas flows through pipeline to Emden, Germany.

ConocoPhillips is the operator of the Greater Ekofisk Area with 35.1% stake while the other Ekofisk co-venturers include Total (39.9%), Eni (12.4%), Statoil (7.6%) and Petoro (5%).