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.
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%)
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Solid 1st quarter in a demanding market situation
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Solid cash flow – impacted by weaker gas market
14 licences to Petoro
40 per cent cut in greenhouse gas emissions by 2030 – net zero in 2050
[30.10.2019] - Press release - Third quarter 2019
New projects provide a basis for increased revenue
Norwegian shelf giant on stream
[08.08.2019] - Press release - Second quarter 2019
59 billion to the Norwegian Oil Fund from Petoro first half 2019