Equinor has assumed the operatorship of the Wisting oilfield license (PL537) in the Barents Sea offshore northern Norway from Austrian firm OMV.

In June, OMV and Equinor signed two memoranda of understanding (MoUs) for collaboration on the Wisting development in the Norwegian Continental Shelf (NCS).

Under one of the MoUs, Equinor agreed to assume the role of operator of Wisting in the development phase, while OMV will assume the role in the operating phase.

Equinor project development senior vice-president Geir Tungesvik said: “We are pleased to continue developing the Wisting field and will concentrate on finding the best development solution for the field development.”

Equinor noted that the transfer of operatorship has been approved by Norwegian authorities.

The Wisting discovery, which was made in 2013, has volumes that are estimated at 440 million barrels of oil (Mmboe). It was discovered in exploration well 7324/8-1.

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By GlobalData

OMV Norge is the operator of PL 537 and has a 25% share in the licence. Other joint venture (JV) partners include Petoro (20%), Idemitsu Petroleum Norge (20%) and Equinor Energy (35%).

In August, Equinor made a light oil discovery in the Sputnik exploration well in the Barents Sea, which was drilled in the PL855 licence, located approximately 30km north-east of the Wisting discovery.

In September 2017, OMV discovered oil at 7324/8-1 (Wisting) after drilling appraisal well 7324/8-3 located within PL537.

The company completed drilling and testing of the Wisting Central II horizontal well in the Wisting field in April 2016.