On the trail of oil
The first hydrocarbon discovery on the NCS occurred on 15 June 1968 in the field later known as Cod, operated by Phillips Petroleum Company. Consisting primarily of gas and condensate (light oil) with a little oil, this discovery boosted optimism.
The Ministry of Industry’s oil office began discussions on the use of gas and landfall options. Following an appraisal well, however, it became clear that Cod was not large enough alone to carry the cost of development and landing.
But the field had confirmed the belief among geologists that petroleum was to be found in the North Sea and an optimistic mood prevailed for a while. The field was declared commercial in 1972.
Second licensing roundDiscovery of EkofiskMore about history
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