OMV Snags New Offshore Norway License

OMV Aktiengesellschaft has strengthened its E&P position in the core region Northwestern Europe by acquiring a 30% interest in the exploration license PL 301CS in Norway from the Canadian company Talisman and the Danish company DONG. The new license is located in the Norwegian North Sea, approximately 300 km southwest of Stavanger and less than 30 km northeast of the producing UK field Jade, in which OMV holds an interest. The previous license holders, Talisman as operator and DONG, retain an interest of 42% and 28%, respectively. The agreement is subject to final approval of the Norwegian authorities. This acquisition is part of an expansion of OMV's E&P portfolio which is in line with the Company's growth strategy.

 "We are well on track to build up a strong position in Norway and seek to further this by securing additional high quality exploration acreage in the future," said OMV Executive Board Member Helmut Langanger, who is responsible for Exploration and Production.
 
Two licenses (PL 430, PL 439) were awarded to OMV in early 2007 and a further two licenses (PL 449, PL 445) in June 2007. In February 2008, OMV was awarded the operated license PL 471 in the Norwegian Sea. License PL 301CS, which is located 80 km north of the giant Ekofisk oil field, is operated by Talisman (42%) with DONG (28%) and OMV (30%) as partners. All the licenses are located in prospective areas.

 

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