Equinor and OMV have agreed on transferring the operatorship for the Wisting license and development phase in the Barents Sea as of 1 December.
"We are pleased to continue developing the Wisting field and will concentrate on finding the best development solution for the field development," says Geir Tungesvik, senior vice president for project development in Equinor.
In June, the two companies signed a memorandum of understanding (MoU) to cooperate on the Wisting development in the Barents Sea. Now the parties have agreed on the final cooperation agreement.
This transfers the operatorship of Wisting in the development phase to Equinor. OMV will assume the role as operator for the operation phase. Equinor will lead the development project with OMV personnel seconded into the project organization.
The transfer of operatorship is approved by Norwegian authorities.
Source: Equinor
Citi tops M&A financial advisers list in oil and gas sector for Q1 2024
Namibia's NAMCOR signs deal with Chevron to develop offshore block
Mosman Oil and Gas gets approval for Amadeus project
Türkiye reaches ‘historic production level’ at Sakarya gas field: Turkish energy minister