OMV Awarded Two Additional Exploration Licenses Offshore Norway
OMV has strengthened its E&P position in its core region Northwestern Europe by being awarded two additional offshore exploration licenses in Norway. The new licenses are located in the North Sea and the Barents Sea. OMV (Norge) AS, a 100% subsidiary of OMV Exploration & Production GmbH, will take responsibility as operator for the license in the Barents Sea. The licenses were awarded by the Norwegian Ministry of Petroleum and Energy in the course of the APA (Awards in Predefined Areas) 2006 round in addition to the two operated licenses, which were awarded earlier this year. This is part of an expansion of OMV's E&P portfolio, which is in line with the Company's growth strategy.
Helmut Langanger, OMV Executive Board member responsible for Exploration and Production stated: "We are well on track to build a strong position as exploration operator in the Barents Sea and secure high quality exploration acreage in the Norwegian Sea and the North Sea."
OMV opened an office in Oslo in March 2006. Two licenses (PL 430, PL 439) were awarded to OMV early 2007. The recently awarded license in the Barents Sea (PL 449) comprises three blocks, which will be operated by OMV (70%) with Discover Petroleum AS (30%) as a partner. The license in the North Sea (PL 445) will be operated by Nexen Exploration Norge AS (40%) with OMV (30%) and Maersk Oil Exploration Norway AS (30%) as partners. All the licenses are located in prospective areas. Work on the blocks will commence in autumn 2007 with the acquisition of a 3D seismic survey.
OMV shares in the awarded blocks:
PL 449: Norway/Barents Sea (blocks 7121/03, 7122/01 and 7122/02 (parts))
OMV (Norge) AS, operator: 70%
Discover Petroleum AS: 30%
PL 445: Norway/North Sea (blocks 33/2 and 33/3)
OMV (Norge) AS: 30%
Nexen Exploration Norge AS, operator: 40%
Maersk Oil Exploration Norway AS: 30%
OMV (Norge) AS is a wholly owned subsidiary of OMV Exploration & Production GmbH, established in 2005 and headquartered in Oslo. OMV (Norge) AS has currently interests in four licenses: two in the Barents Sea, one in the North Sea and one in the Norwegian Sea.
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