Press release from Equinor
Equinor and OMV have agreed on transferring the operatorship for the Wisting license and development phase in the Barents Sea as of 1 December.
“We are pleased to continue developing the Wisting field and will concentrate on finding the best development solution for the field development,” says Geir Tungesvik, senior vice president for project development in Equinor.
In June, the two companies signed a memorandum of understanding (MoU) to cooperate on the Wisting development in the Barents Sea. Now the parties have agreed on the final cooperation agreement.
This transfers the operatorship of Wisting in the development phase to Equinor. OMV will assume the role as operator for the operation phase. Equinor will lead the development project with OMV personnel seconded into the project organization.
The transfer of operatorship is approved by Norwegian authorities.
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FACTS
- The Wisting discovery (PL 537) is located in the Barents Sea
- Volumes are estimated at 440 million barrels of oil
- The discovery was made in 2013
- Licensees: OMV (Norge) AS (25%), Equinor (35%), Petoro AS (20%) and Idemitsu Petroleum Norge AS (20%)
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Date of publication: 2 Dec 2019
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