Equinor and OMV sign two MoU to cooperate in the Barents Sea and in the Norwegian Sea
Equinor and OMV have signed two memorandums of understanding (MoU) to cooperate on both the Wisting development in the Barents Sea and the concept development for the Hades/Iris discovery in the Norwegian Sea.
Both MoUs were signed this week by Arne Sigve Nylund, Equinor’s executive vice president for Development and Production Norway, and Johann Pleininger, executive board member responsible for Upstream in OMV.
As development operator, Equinor will lead project development. In an integrated project organization, OMV personnel will have leading positions within subsurface work, drilling operations and activities related to the operating phase.
The MoU calls for the companies to cooperate on finding the best solution for development and tie-in of Hades/Iris to the existing infrastructure. According to the agreement OMV will continue as operator.
Formal transfer of the Wisting operatorship is scheduled for the third quarter of this year and is subject to approval by Norwegian authorities.