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Transfer of Wisting Operatorship to Equinor

Source: www.gulfoilandgas.com 12/2/2019, Location: Europe

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.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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