Offshore staff
VIENNA, Austria – OMV has agreed to pay Statoil $2.65 billion for various field interests offshore Norway and the UK.
The deal gives OMV 19% in theGullfaks field and 24% in the Gudrun fields in the Norwegian North Sea; a further 30% in the Chevron-operated Rosebank development west of Shetland; and an additional 5.877% in Schiehallion in the same region.
Gudrun, currently under development, is expected to start up early next year. The field is 15 km (9.3 mi) west of theEdvard Grieg development, in which OMV has a 15% stake.
The transaction also gives OMV the option of participating in up to 11 exploration licenses off the Faroe Islands, west of Shetland, and in the Norwegian North Sea. Most are prospective but little-explored frontier concessions.
In return, OMV will collaborate with Statoil to develop new technologies for exploration of gas and oil from mature fields, using OMV’s experience in onshore enhanced oil recovery to complement Statoil’s work on offshore EOR.
Assuming approvals from the Norwegian and UK governments, expected by end-2013, OMV’s proven and probable reserves will increase by around 320 MMboe from the current 1.7 Bboe. Its production will rise by 40,000 boe by 2014 and by up to 58,000 boe/d in 2016.
Details of the transaction are as follows:
Field | Operator | From | To | Licenses | Partners | |||||||||||
Gullfaks | Statoil | 70% | 51% | PL050 PL050B PL050C PL050D PL037B PL037E PL152 PL277 | Petoro 30% | |||||||||||
Gudrun | Statoil | 75% | 51% | PL025, PL187 | GdF Suez 25% | |||||||||||
Schiehallion | BP (33.35%) | 5.88% | 0% | P 559 (in Block 204/25a) directly P 556 via UUOA P 803 via UUOA | Shell 54.90% OMV 5.88% | |||||||||||
Rosebank | Chevron (40%) | 30% | 0% | P 1026 (in Blocks 213/26b and 213/27a) P 1191 (in Block 205/1A) P1272 (in Block 205/2A) | OMV (20%) DONG (10%) |