Aibel Awarded FEED Contract for Wisting Production Vessel
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
Aibel was awarded a Front-End Engineering and Design (FEED) contract for the topsides of the Wisting production vessel, which is part of a partnership led by Equinor and Aker BP. The contract covers the engineering and design required to determine if the project should proceed. The partnership plans to select a development concept and make an investment decision by late 2027.
From oedigital.com
Why it matters
The Wisting project aims to contribute to energy security for Europe. If successful, the project is expected to generate revenues for Norwegian society and create activity within the Norwegian supplier industry over a 30-year period.
From oedigital.com
Who's involved
- EquinorLeading partner in the Wisting project, holding a 42.5% interest.
- Aker BPPartner in the Wisting project, collaborating with Equinor on NCS reserves.
- PetoroPartner in the Wisting project, advancing toward the investment decision.
- AibelAwarded the FEED contract for the topsides of the Wisting production vessel.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- AibelSpeculative
Aibel could secure major revenue through the direct award of the FEED contract.
- EquinorSpeculative
Equinor might advance its core business by securing the Wisting partnership and moving toward investment.
- Aker BPSpeculative
Aker BP could secure a major partnership stake in the Wisting Barents Sea development.
- NorwaySpeculative
Norway might see increased activity and revenue for its supplier industry due to the project.
- EuropeSpeculative
Europe may benefit from increased energy security as the project advances.
Keep exploring
The entities involved
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Equinor
Norwegian energy company; developer of Empire Wind 1 (810 MW) in NYISO — direct competitor to Avangrid offshore wind.
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Aker BP
company in Lysaker, Norway
Nothing else this week.
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Petoro
Norwegian state-owned company
Nothing else this week.
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