Statoil asset transfer lifts OMV’s North Sea production

OMV has completed the acquisition of a package of interests from Statoil offshore Norway and west of Shetland.

Offshore staff

VIENNA, Austria – OMV has completed the acquisition of a package of interests from Statoil offshore Norway and west of Shetland.

This gives OMV 19% and 24 % respectively in the Gullfaks and Gudrun oil and gas fields in theNorth Sea.

Additionally, the company nets 30% in the Chevron-operated Rosebank development and a further 5.88% in the BP-operated Schiehallion field.

OMV and Statoil have also agreed to form an R&D partnership and have left the way open for more farm-in agreements in other exploration licenses.

The transaction lifts OMV’s proven and probable reserves by around 320 MMboe, and its production by roughly 25,000 boe/d. It anticipates further increases to around 40,000 boe/d during 2014 and to 58,000 boe/d during 2016.

11/1/2013

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