Equinor and Austrian oil firm OMV will work together on the Wisting development in the Barents Sea and the concept development for the Hades-Iris discovery in the Norwegian Sea.
The operatorship of Wisting will transfer to Equinor later this year, subject to approval by Norwegian authorities, while OMV will continue as operator of Hades-Iris.
The agreements were signed 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.
Mr Nylund said: “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.”