The clock is ticking for Equinor to submit a development plan for the Wisting field in the Barents Sea by the end of 2022, but the Norwegian operator still faces challenges with project economics and technical uncertainties relating to a segmented reservoir situated 200 metres below the seabed.

The Wisting project received a boost in 2020 when the Norwegian parliament approved a temporarily tax relief package that reduced the estimated after-tax break-even oil price to $30 per barrel for the proposed $7 billion development, down from a previous estimate of $40.