Both MoUs were signed this week 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.

'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,' says Nylund.

As development operator, Equinor will lead project development. In an integrated project organization, OMV personnel will have leading positions within subsurface work, drilling operations and activities related to the operating phase.

'This kind of cooperation is a competitive force of the NCS. Our experience from developing large offshore projects and our many years of presence in the Barents Sea, combined with OMV's experience as a global operator, prove that we can utilize the strength of each company,' says Nylund.

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Equinor ASA published this content on 26 June 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 June 2019 09:16:01 UTC