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Transfer of Wisting Operatorship to Equinor Completed

Gasoil News - Published on Fri, 06 Dec 2019

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Equinor and OMV have agreed on transferring the operatorship for the Wisting license and development phase in the Barents Sea as of 1 December. 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. Equinor SVP project development Mr Geir Tungesvik said "We are pleased to continue developing the Wisting field and will concentrate on finding the best development solution for the field development.”

In June, the two companies signed a memorandum of understanding to cooperate on the Wisting development in the Barents Sea. Now the parties have agreed on the final cooperation agreement.

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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Posted By : Rabi Wangkhem on Fri, 06 Dec 2019
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