NCS: Strategic collaboration between OMV and EquinorLocation of Hades and Iris discoveries. Source: NPD

NCS: Strategic collaboration between OMV and Equinor

The companies have signed two Memorandums of Understanding (MoU) for cooperation on Wisting and Hades/Iris, based on the expertise each of them have, and to ensure continuity in these projects.

According to the first MoU related to the Wisting oil discovery, Equinor will assume the role as operator in the development phase, while OMV will re-assume the operatorship for the operating phase.

As development operator, Equinor will lead the project execution and fabrication, while OMV will oversee subsurface work, drilling operations and activities related to the operating phase.

The transfer of the operator role to Equinor is planned in Q3/2019. The transfer of the operatorship is subject to approval by the Norwegian authorities.

The second MoU refers to the Hades/Iris gas and condensate discovery, located on Haltenbanken close to the Equinor-operated Morvin, Kristin, Heidrun and Åsgard fields. 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.