Norway's Wisting oil field moves closer to development after years of delay

Equinor and its partners have submitted an environmental impact assessment for the Wisting field in the Barents Sea. The proposed development involves a floating production, storage, and offloading vessel. A 16-week public consultation on the assessment will now begin. The Wisting field was discovered in 2013 but saw development plans paused in 2022 due to rising costs. Located 310 kilometres north of Hammerfest, it remains Norway’s largest untapped oil discovery on the continental shelf. Its estimated recoverable resources stand at nearly 500 million barrels of oil equivalent.

The licence is shared between Equinor Energy AS, Aker BP ASA, Petoro AS, and INPEX Idemitsu Norge AS. By the end of 2026, the partners aim to finalise their concept selection and decide on proceeding with the project. A final investment decision is expected by the end of 2027. If developed, Wisting could provide long-term benefits for Norway’s supply industry and wider society. The project will now undergo a thorough review during the consultation period. The outcome will shape the next steps for this major offshore resource.