OMV Wins Six North Sea Licenses

OMV is expanding its activities in the North Sea. OMV (U.K.) Limited, a wholly owned subsidiary of OMV Aktiengesellschaft, has been awarded six exploration licenses by the Department of Trade and Industry. For the first time since the entry in the UK in 1987 OMV will become operator for two licenses. The license awards are for Block 30/30 in the Central Graben and Block 204/13 in the West of Shetland region. Helmut Langanger, OMV Executive Board member responsible for Exploration and Production stated: "We are delighted to be awarded these licenses as they have very high potential acreage. The new blocks support our strategy of growth in the West of Shetland and our desire to continue to expand our portfolio in the North Sea. The fact that OMV (U.K.) Limited has become an operator for the first time in the UK reflects the good reputation of our capabilities in the international oil and gas business."

Block 30/30 (OMV share 100%) lies in the southern region of the Central Graben, adjacent to existing production. The program allows for the re-evaluation of a 2D and 3D seismic data within the first year. After the data has been thoroughly assessed there is an option to drill or drop the acreage within the four year period of the license.

Block 204/13 (OMV share 80%), in the West of Shetland, increases OMV UK's existing significant presence in the region. It is adjacent to the Company's interest in the Suilven discovery and nearby Schiehallion field. The work program involves obtaining 2D seismic data, with the option to drill one exploration well or to drop the acreage within the license period of four years.

Four additional non-operated licenses have also been awarded in the West of Shetland region where OMV cooperates as partner of international consortia.

OMV operated blocks 
30/30                    OMV (U.K.) Limited  (100%*) 
204/13                  OMV (U.K.) Limited (80%*) 
                               Faroe Petroleum Plc (20%)
OMV interest blocks 
204/4, 5                OMV (U.K.) Limited (15%) 
                               Amerada Hess (32.5%), operator 
                               ChevronTexaco (32.5%) 
                               DONG (20%) 

205/1                     OMV (U.K.) Limited (20%) 
                               ChevronTexaco (40%), operator 
                               Statoil (30%) 
                               DONG (10%)
213/22, 23, 28     OMV (U.K.) Limited (20%) 
                               ChevronTexaco (40%), operator 
                               Statoil (30%) 
                               DONG (10%) 

217/10, 14, 15     OMV (U.K.) Limited (20%) 
                               ChevronTexaco (60%), operator 
                               Faroe Petroleum (20%)

OMV (U.K.) Limited is a wholly owned subsidiary of OMV Aktiengesellschaft, established in 1987 and headquartered in London. OMV (U.K.) Limited has currently 9 producing fields and more than 40 exploration licenses in the North Sea. The current production is about 15,000 barrel of oil equivalent per day (boe/d).

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