Conoco Phillips, on behalf of the licensees, has submitted a Plan for Development and Operation (PDO) for the re-development of the Tor field in the Greater Ekofisk area in the North Sea.
The field was in production from 1978 until it was shut down in 2015 when the installation reached the end of its lifetime.
At shutdown, just 20 per cent of the resources in place had been produced.
The field will be re-developed by installing two new subsea templates tied into the Ekofisk Complex.
The recoverable reserves are estimated at 10 million standard cubic metres of oil equivalents (Sm3).
The plan is to re-start production in late 2020.
The total investment costs for the re-development are estimated at NOK 6 billion.