DG1 decision on Wisting

[26.06.2019]
On Wednesday, 26 June 2019, the partners in the Wisting licence (PL 537) unanimously approved DG1, and also endorsed Equinor’s takeover as development operator, and that OMV will become the operator for the operations phase.
Equinor and OMV have entered into an expanded collaboration and have signed a letter of intent for development of the Wisting discovery in the Barents Sea. Equinor will lead the project in the development and construction phase, while OMV will take over as operator in the operations phase, once the field has been developed.

Formal transfer of operatorship for Wisting is planned in the third quarter of this year and is contingent on approval by the Norwegian authorities.

The development concept is a manned floater with subsea infrastructure.
 
Facts
  • The Wisting discovery (PL 537) is located in the Barents Sea
  • Volumes are estimated at approx. 400 million barrels of recoverable oil
  • Licensees: Equinor (35%), OMV (Norge) AS (25%), Petoro AS (20%) and Idemitsu Petroleum Norge AS (20%)

Other news

Start-up of the Snorre Expansion Project
[14.12.2020]
Start-up of the Snorre Expansion Project
Read more
Kristin Kragseth new CEO of Petoro
[10.12.2020] - Press release
Kristin Kragseth new CEO of Petoro
Read more
Increased cash flow and high activity level
[30.10.2020] - Press release - third quarter 2020
Increased cash flow and high activity level
Read more
New Vice President Legal Affairs
[02.10.2020]
New Vice President Legal Affairs
Read more
Green light for Breidablikk
[28.09.2020]
Green light for Breidablikk
Read more
Kjell Morisbak Lund appointed as acting CEO
[07.09.2020]
Kjell Morisbak Lund appointed as acting CEO
Read more
Grethe Moen resigns as Petoro CEO
[12.08.2020]
Grethe Moen resigns as Petoro CEO
Read more
Substantial cash flow from Petoro in the first half of 2020 despite challenging 2nd quarter
[05.08.2020] - Press release - second quarter 2020
Substantial cash flow from Petoro in the first half of 2020 despite challenging 2nd quarter
Read more
Solid 1st quarter in a demanding market situation
[11.05.2020] - Press release - First quarter 2020
Solid 1st quarter in a demanding market situation
Read more
Solid cash flow – impacted by weaker gas market
[06.03.2020] - Press Release Petoro 2019 results
Solid cash flow – impacted by weaker gas market
Read more