OMV Acquires Stake in UK West of Shetland License

OMV has acquired a 20% stake in ChevronTexaco's UK P1026 exploration license covering Blocks 213/26 and 213/27 in the West of Shetlands area. ChevronTexaco was awarded the license in June 2001, and will retain the remaining 80% equity interest and operatorship. OMV already has several interests in the West of Shetlands area, including a 5.877% interest in the BP-operated Schiehallion field and a 32.5% share in license P974, which contains the Suilven discovery.

OMV is also a partner in wells 204/10-1 (Cambo) and 164/27-1 (Antaeus) located in the West of Shetlands and Rockall Trough respectively.