The Wisting partnership has awarded Aibel the front-end engineering and design (FEED) contract for the topsides of the project's production vessel. Aibel says about 250 people will be involved. The award followed a competitive tender among Norwegian suppliers.
The contract is a step toward a decision, not a commitment to build. It covers front-end engineering and further maturation of the design, which gives the partners a basis for deciding on project execution. It carries an option for engineering, procurement and project management (EPma). The contract to fabricate the topside modules will be awarded at a later stage.
What the partners say
Trond Bokn, Equinor's senior vice president for project development, described the project as early. In his words, "considerable work remains" before Wisting is profitable and feasible. He said that if the partners succeed, the project will contribute to energy security for Europe and generate revenues for Norwegian society.
Bokn also said the FEED contract will form part of the overall basis for a potential investment decision. The partners will work with suppliers on improvements to enable the project to be realized.
Timeline and ownership
The partnership plans a concept selection, and a decision on whether to progress Wisting, towards the end of 2026. The investment decision is planned for late 2027.
| Wisting licensee | Share |
|---|---|
| Equinor Energy AS | 42.5% |
| Aker BP ASA | 27.5% |
| Petoro AS | 20% |
| INPEX Idemitsu Norge AS | 10% |
Expected effects in Norway
Equinor's release lays out the supplier case. A development of Wisting would offer significant opportunities for the Norwegian supplier industry in engineering and equipment deliveries. Drilling and wells and subsea development account for half of the total investment in Wisting, and most of that activity will generate value in Norwegian industry.
Operations are expected to last 30 years. Equinor says they will mainly generate ripple effects in Norway, helping to sustain industrial jobs and supporting activity in local communities in the north.
We also covered the story Aker BP and partners find gas near Norway's Duva field.
