Wisting oil field Norway : Equinor awards contracts for concept studies
Wisting oil field Norway : Equinor has awarded contracts for concept studies to advance the project development of the Wisting field in the Barents Sea in Norway towards a final concept select decision.
Aker Solutions, KBR, Sevan SSP, and Aibel have been awarded contracts for concept studies pertaining to the floating production storage and offloading (FPSO).
The concept studies contract for the subsea production and processing equipment, umbilical, risers and flowlines (SURF) of the Wisting oil project have been awarded to Aker Solutions, TechnipFMC, IKM Ocean Design, OneSubsea Processing, and Kongsberg Maritime.
Trond Bokn – acting senior vice president for project development in Equinor, commenting on the Wisting oil field early-stage contracts, said: “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.”
Equinor and its partners are expected to select a final concept for the Wisting oil field development during Q2 2021, with the investment decision planned at the end of 2022.
Map showing the Wisting oil field in the Barents Sea. Image courtesy of Equinor ASA.
Details of the Wisting oil field Norway
Equinor is the operator in the development phase of the Wisting oil project with a stake of 35%. OMV (Norge) with a stake of 25% will take over operatorship in the production phase. The other Wisting license partners are Petoro and Idemitsu Petroleum Norge, which hold stakes of 20% each.
The Wisting oil field is contained in the Hoop area of the Barents Sea, nearly 310 kilometres from the Norwegian mainland. It is estimated to hold 440 million barrels of oil equivalent.
Located in PL 537, the Wisting oil discovery was made by OMV in 2013.
Last month, Lundin Energy Norway signed a deal worth $125 million with Idemitsu Petroleum Norge to acquire stakes in a portfolio of licences in the Barents Sea, which includes a 10% stake in the Wisting oil field.