OMV and Equinor to Collaborate on Norwegian Discoveries

Date : 06/26/2019 @ 10:50AM
Source : Dow Jones News
Stock : Omv (PC) (OMVKY)
Quote : 49.17  0.735 (1.52%) @ 9:55PM

OMV and Equinor to Collaborate on Norwegian Discoveries

Omv (PC) (USOTC:OMVKY)
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   By Nathan Allen 
 

OMV AG (OMV.VI) said Wednesday that it has signed preliminary agreements with Equinor ASA (EQNR.OS) for the joint development of two discoveries on Norway's Continental Shelf.

According to the first agreement, Equinor will operate the Wisting discovery during the project's development stage, with OMV assuming the operatorship once production starts.

Under the second agreement, the two companies agreed to cooperate on how best to develop and connect the Hades/Iris discovery to existing nearby infrastructure.

 

Write to Nathan Allen at nathan.allen@dowjones.com

 

(END) Dow Jones Newswires

June 26, 2019 05:35 ET (09:35 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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