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Equinor & OMV Ink MoUs For Wisting and Hades Iris

Gasoil News - Published on Fri, 28 Jun 2019

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Equinor and OMV have signed 2 MoU to cooperate on both the Wisting development in the Barents Sea and the concept development for the Hades/Iris discovery in the Norwegian Sea. As development operator, Equinor will lead project development. In an integrated project organization, OMV personnel will have leading positions within subsurface work, drilling operations and activities related to the operating phase.

The Hades/Iris discovery is located on Haltenbanken close to the Equinor-operated Morvin, Kristin, Heidrun and Åsgard fields.

The MoU calls for the companies to cooperate on finding the best solution for development and tie-in of Hades/Iris to the existing infrastructure. According to the agreement OMV will continue as operator.

Formal transfer of the Wisting operatorship is scheduled for the third quarter of this year and is subject to approval by Norwegian authorities.

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%)

The Hades/Iris discovery (PL 644/B/C) is located on Haltenbanken in the Norwegian Sea
Preliminary estimates indicate a discovery in the range of 40 to 245 million barrels of oil equivalent
The gas and condensate discovery was made in 2018
Licensees: OMV (Norge) AS (30%), Equinor (40%), DNO North Sea (Norge) AS (20%) and Spirit Energy Norway AS (10%)

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Posted By : Mohan Sharma on Fri, 28 Jun 2019
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