STAVANGER, Norway – Equinor has assumed operatorship of the Wisting oilfield license (PL537) in the Barents Sea from OMV.
“We…will concentrate on finding the best development solution for the field development,” said Geir Tungesvik, Equinor’s senior vice president for project development.
The two companies signed a memorandum of understanding (MoU) last June to cooperate on the project and have now finalized the co-operation agreement.
While Equinor becomes operator for the development (supported by OMV personnel), OMV will take charge for the operation phase.
Wisting, discovered in 2013, contains an estimated 440 MMbbl of oil. The other partners are Petoro and Idemitsu Petroleum Norge.