Equinor, OMV plan cooperation off Norway

Equinor and OMV have signed memorandums of understanding to cooperate in development of the Austrian company’s Wisting oil discovery in the Barents Sea off Norway and concept development of its Hades/Iris gas and condensate discovery in the Norwegian Sea.

Subject to government approval, Equinor will become development operator for Wisting field, a 2013 discovery on PL537. Interests are Equinor, 35%; OMV (Norge) AS, 25%; and Petoro and Idemitsu Petroleum Norge AS, 20% each.

OMV will remain operator of the 2018 Hades-Iris discovery on PL 644/B/C near Morvin, Kristin, Heidrun, and Aasgard fields operated by Equinor.

Under the MOU, OMV and Equinor will cooperate on a development scheme based on tie-back to existing facilities.