On the initiative from Lundin Energy, Equinor and Lundin Energy have entered into an agreement where Equinor continues as an operator in the operations phase for the Barents Sea Wisting field.
Equinor has been the operator of the Wisting field development phase since 1 December 2019. Based on the agreement with LundinEnergy, Equinor will continue its Wisting operatorship into the operations phase following an investment decision for the project.
“We are ready to continue our operatorship into the operations phase of the Wisting field, as proposed by Lundin Energy. We will ensure safe and efficient operation of the Wisting field, in close cooperation with our licence partners,” says Kristin Westvik, senior vice president for Exploration and production north in Equinor.
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“This agreement further strengthens the relationship between Equinor and Lundin Energy and sets out a strong collaboration for exploration and operations in what will be the next Barents Sea production hub, says Charlotte Berge, director of Field Development in Lundin Energy Norway.
The Wisting license partners will continue to mature the project towards a scheduled investment decision at the end of 2022. An impact assessment is scheduled to be completed during the first quarter of 2022.
The cooperation agreement between Equinor and Lundin Energy further includes exploration activities in the areas close to the Wisting field. Based on the agreement, Lundin Energy will take over the operatorship in the exploration phase for production licenses PL1133 and PL 1134, which were awarded in the 25th licensing round, and the application for an additional license in the area in this year’s application in predefined areas (APA) licensing round. The operatorship for the licenses is scheduled to be returned to Equinor in a field development phase.
The ownership interests of these licenses will be harmonized between the companies to ensure the same ownership structure as for the Wisting license. This means that Lundin Energy will take over 15% of the ownership interests from Equinor in P1L133 and 5% of the interests in PL1134 from 1 January 2022.
Date: Dec 17, 2021
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