Equinor has, on behalf of the Wisting license partners, awarded contracts for concept studies to further progress of the project development towards a final concept select decision.
“Wisting is a considerable oil field in the Barents Sea, and we are cooperating well with our partners in further maturing the project. Founded on experience and synergy potential within the project-portfolio we have assessed different development alternatives to identify potential solutions for a cost-effective and optimal field development” says Trond Bokn, acting senior vice president for project development in Equinor.
“Based on this work, the license partners have decided to further assess a floating production unit based on a circular FPSO solution (floating production, storage and offloading). However, a lot of work remains before we can make a final concept select during second quarter of 2021,” says Bokn.
Equinor and the industry have ambitious plans for reducing greenhouse gas emissions from activities on the Norwegian continental shelf. The Wisting partners are focused on reducing the carbon footprint of the production to the lowest extent feasible.
“Electrification is considered a possible option for reducing field emissions. The project will study a power-from-shore solution for a circular FPSO going forward,” says Bokn.
In 2019, the authorities approved a transfer of the Wisting operatorship to Equinor in the development phase, while OMV will resume operatorship in the production phase. Equinor is leading the development project and personnel from OMV is well integrated in the project organization.
Suppliers who have been awarded contracts in connection with the start of Wisting concept studies:
An investment decision for Wisting is planned at the end of 2022.
Partners: Equinor (35%), OMV (Norge) AS (25%), Petoro AS (20%) and Idemitsu Petroleum Norge AS (20%).
Wisting (PL 537) was discovered in 2013 by OMV
Located in the Hoop area of the Barents Sea, around 310 kilometers from the Norwegian mainland
Volumes are estimated at 440 million barrels of oil equivalent
Licensees: Equinor (35%), OMV (Norge) AS (25%), Petoro AS (20%) and Idemitsu Petroleum Norge AS (20%)