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OMV hikes Wisting recoverable reserves to 440 million barrels

OMV (Norge) AS, a producer subsidiary of Austrian integrated oil and gas firm OMV AG, has hiked the recoverable estimate volume at the Wisting field in the Barents Sea to 440 million barrels in 2018 from 350 MMbbl in 2017.

The field is located in production license 537 and was awarded during the twentieth licensing round in 2009. It was discovered in 2013 through exploration well 7324/8-1.

OMV Norge AS is the operator of the contract with a 25% stake, while Equinor Energy AS owns 35%, Petoro AS owns 20% and Idemitsu Petroleum Norge AS, a unit of Idemitsu Kosan Co. Ltd., holds 20%.