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OMV Announces UK North Sea Divestments

Published: June 20, 2012; 14:33 · (Vindobona)

OMV divests 5% stake in the Beryl Area producing fields for a consideration of USD 118m and acquires 17.5% stake in Tobermory and Bunnehaven discoveries West of Shetlands, from Statoil (U.K.).

OMV Announces UK North Sea Divestments / Picture: © OMV AG

OMV’s stake in a number of licences in the area surrounding the Beryl field and its satellites has been acquired by an undisclosed buyer. The deal is expected to close in Q4 2012. OMV has held these assets since 1990, at which time it represented OMV’s first offshore producing venture worldwide.

OMV has also executed a swap agreement with Statoil (U.K.) Limited to acquire…

This article includes a total of 236 words.

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