ConocoPhillips Starts A New North Sea Project That Might Not Yield Great Near Term Returns

The Eldfisk II is an expansion project that aims to increase the ultimate resource recovery from the Eldfisk field, which has been in production since 1979, by tapping additional reserves. However, under the current crude oil price environment, the project is not expected to yield significant returns for ConocoPhillips in the short to medium term.