OMV and Equinor signed two Memorandum of Understanding (MoU) on collaboration on the Norwegian Continental Shelf related to the Hades/Iris discovery and the Wisting development.

The first MoU specifies that Equinor will assume the role as operator of Wisting in the development phase, with OMV as operator in the operating phase. The transfer of the operator role to Equinor is planned in Q3/2019. Upon production start-up, the operatorship will revert to OMV (Norge) AS. The transfer of the operatorship is subject for government approval.

The Hades/Iris gas and condensate discovery made by OMV is close to producing fields where Equinor is the operator. The second MoU outlines that OMV and Equinor intend to cooperate on finding the best solution for development and tie-in of Hades/Iris to existing infrastructure. OMV (Norge) AS will continue as operator.

“A close collaboration between the largest owners in these two licenses is based on the expertise we each have, and these agreements will strengthen diversity on the Norwegian shelf. Both of us will share competencies and continuity in these projects,” said Johann Pleininger, Executive Board member responsible for Upstream and Deputy Chairman of OMV.

“It is important for us to create value and maintain activity on the Norwegian continental shelf for many decades ahead, in close cooperation with other players. We are pleased to take over and pursue such a well-prepared project through this cooperation,” said Arne Sigve Nylund, Equinor’s executive vice president for Development and Production Norway.