Plan For Norway's Zidane Field May Be Presented In Summer 2016


STAVANGER, Norway, Nov 19 (Reuters) - A plan for developing Norway's Zidane natural gas field could be presented in the second or third quarter of 2016, with the early parts of summer being the most likely time frame, Austria's OMV said on Thursday.

Zidane, which has been delayed while the owners sought to cut the cost of its development, is operated by oil firm DEA, a unit of Russian billionaire Mikhail Fridman's LetterOne.

A plan for developing the Wisting oil and gas discovery in the Arctic Barents Sea will probably be presented in 2019 or 2020, OMV's managing director for Norway, Bernhard Krainer, told an energy conference.

DEA holds 40 percent of Zidane, while OMV, Maersk Oil and Edison hold 20 percent each.

Wisting is 25 percent owned by OMV, while Petoro, Tullow Oil and Idemitsu have 20 percent each and Statoil has 15 percent.

(Reporting by Stine Jacobsen, writing by Terje Solsvik, editing by Gwladys Fouche)

Copyright 2017 Thomson Reuters. Click for Restrictions.


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