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OMV Global

Iris Hades will create ripple effects

As operator of the Iris Hades project, OMV has sent out the Impact Assessment Program (IAP) for public consultation. The consultation period is 12 weeks.

The Impact Assessment Program is an important part of the planning process and the final Plan for Development and Operations (PDO) for Iris Hades. The PDO is planned to be submitted to the Ministry of Petroleum and Energy before year-end 2022.

According to the IAP, the Iris Hades development will create considerable ripple effects to Norwegian suppliers during the development and operation phase. The national share of development costs for Iris Hades is estimated to be 71% and and around 80% in operating costs. This amounts to about NOK 6 billion. Estimated national employment effects are around 4,200 man-years for development and operations combined. In total, the state will receive about NOK 4 billion in revenue from taxes and fees in the years 2022 to 2034

OMV (Norge) AS is the operator of the Iris Hades license with a stake of 30%. The partners are Equinor (40%), DNO (20%) and Sval (10%).

The IAP is available on OMV’s website: