Equinor Advances Barents Sea Wisting Project

Equinor and its partners have submitted the proposed environmental impact assessment program for the Wisting oil field to Norwegian authorities. This submission initiates a 16-week public consultation period, moving the Barents Sea project closer to potential development. The field, discovered in 2013, holds nearly 500 million barrels of oil equivalent.

The partnership has decided against supplying power from shore due to technical issues and high expenses. Instead, an energy-efficient gas turbine solution will be used for offshore power generation. A floating production, storage, and offloading (FPSO) vessel is the preferred development concept.

Equinor is also exploring the integration of carbon capture and storage (CCS) into the new FPSO, contingent on technology, regulations, and economics. The concept selection is slated for completion by the end of 2026, with a final investment decision anticipated by late 2027.

This development is projected to create economic activity and employment in Norway for approximately 30 years. Norwegian suppliers are expected to significantly contribute to the FPSO modules, though the vessel hull requires overseas construction. The ownership structure is subject to government approval.