STAVANGER, Norway – Equinor submitted an impact study for the development and operation of the Wisting field in the Barents Sea.
The company and its partners aim to finalize the Development and Operation Plan (PDO) by the end of this year, taking advantage of Norway’s temporary tax breaks for new oil projects.
The impact study, for public consultation, covers the development and operation phases. Last month, Equinor reached an agreement with Lundin under which Equinor will continue to manage the project in the operations phase.
Wisting contains estimated recoverable volumes of nearly 500 MMboe, with a forecast of NOK 60-75 billion ($6.79-8.49 billion) and a potential lifespan of over 30 years.
Siv Irene Skadsem, vice president of new assets on the Norwegian continental shelf at Equinor, said the selected development concept “is robust and suitable for exploiting the Barents Sea, while at the same time being well suited for that Norwegian suppliers can compete for major assignments.”
Wisting will produce via a circular FPSO, with operations supported by shore power. The oil will be processed and stored on the FPSO before being transported to market.
The Norwegian share of deliveries of goods and services will represent at least 50% of total investments, and Equinor aims to increase this percentage as contracts are awarded.
Current plans call for the establishment of the supply base and helicopter base at Hammerfest in northern Norway.
Kristin Westvik, Equinor’s senior vice president for exploration and production operations in the north, said: “To build on the communities that Equinor already has in northern Norway, we want to split the model operating between Harstad and Hammerfest.
“We plan to establish a shore-based control room and operational support duties in Hammerfest, while functions related to administrative operations and other technical functions will be in Harstad.”
There is not enough gas in the reservoir to supply the field throughout its lifetime, and importing gas appears to be technically complex and expensive.
Electrification should produce the lowest emissions during the production period. For the operations phase, Wisting’s electricity demand will be approximately 80 MW, supplied via a 340 km (211 mi) long feeder cable.
The deadline for the consultation process for the impact assessment is 12 weeks from publication.
Wisting’s licensing partners are Equinor Energy (35%), Lundin Energy Norway (35%), Petoro (20%) and INPEX Idemitsu Norge (10%).