Equinor, Norway’s state-owned energy giant, has entrusted Aibel, a compatriot energy services company, with a front-end engineering and design (FEED) study for the topsides of a production vessel destined for an oil project in the Barents Sea.
The contract award for front-end engineering and design of the Wisting production vessel’s topsides was handed out to Aibel following a competitive tender involving Norwegian suppliers.
This deal covers front-end engineering and further maturation of the design to provide a basis for a decision on project execution, with an option for engineering, procurement, and project management (EPma).
The partnership, encompassing Equinor (42.5%, operator), Aker BP (27.5%), Petoro (20%), and INPEX Idemitsu Norge (10%), plans to do a concept selection and decide whether to progress Wisting towards the end of 2026, with the final investment decision (FID) planned for late 2027.
Mads Andersen, Aibel’s President and CEO, commented: "This is a very important contract for us, particularly in terms of maintaining our centres of expertise following a period in which we have recently completed major deliveries both to the Norwegian Continental Shelf and to European offshore wind projects.
“The Wisting development has the potential to become a major new-build project that will be of great importance to Norwegian supplier industry.”
According to Aibel, the FEED contract for the topside modules for the production vessel at the Wisting field will provide work for approximately 250 employees at Aibel’s offices in Asker, supported by personnel in Haugesund.
The work will begin immediately and is expected to be completed in late 2027. Equinor claims that the contract for fabrication of the topside modules will be awarded at a later stage.
Wisting location; Source: Equinor
Trond Bokn, Equinor's Senior Vice President for Project Development, said: “We are at an early stage in the development of Wisting, and considerable work remains to develop a project that is profitable and feasible.
“If we succeed, it will contribute to energy security for Europe and generate revenues for Norwegian society. Wisting will generate activity in the Norwegian supplier industry and in local communities in the north over a 30-year period.”
The development of Wisting would offer significant opportunities for the Norwegian supplier industry in engineering and equipment deliveries, as drilling, wells, and subsea development account for half of the total investment.
Operations at the project are expected to last for 30 years, generating activity for the Norwegian supplier industry, helping to sustain industrial jobs and supporting activity in local communities in the north.
“We are pleased to welcome Aibel to the Wisting team. This FEED contract will form part of the overall basis for a potential investment decision. We will work with the suppliers on improvements to enable the project to be realised,” added Bokn.