Tuesday 20 August 2013

OMV pays Statoil $2.65bn for North Sea oil and gas stakes - The National

OMV pays Statoil $2.65bn for North Sea oil and gas stakes - The National:

"OMV has acquired stakes in North Sea oilfields from Norway's Statoil in a US$2.65 billion deal, as the Austrian company pursues its strategy to expand its production capacity at the expense of its downstream portfolio.

Under the deal, OMV's largest to date, the company will receive stakes in two fields in Norwegian waters, the Gullfaks and the Gudrun fields. It will also increase its ownership in the Rosebank and Schiehallion fieldsnear the United Kingdom's Shetland Islands.

OMV, central Europe's largest energy company, is part owed by Abu Dhabi's International Petroleum Investment Company (Ipic). OMV said it had funded the acquisitions from the proceeds of divestments in its downstream business, after it sold hundreds of petrol stations this year alone."

'via Blog this'

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