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%)