Barents Sea Discovery Could Contain More Than 1 Bboe.

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According to OMV, the Wisting discovery in the Barents Sea is potentially the largest finds in the Norwegian Arctic to date. Wisting is the northern-most offshore Norway oil discovery and could contain more than 1 Bboe, according to company estimates. Field development would likely be via floating production, storage and offloading vessel in area water depth of more than 400 m, with projected production to begin in 2024-25. The Wisting discovery is on the Norwegian Continental Shelf. Vienna, Austria-based OMV is the operator of PL537 and Block 7324/7 and field with 25% interest in partnership with Idemitsu Petroleum, 20%; Petoro, 20%; Tullow Oil, 20%; and Statoil with the remaining 15%.