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OMV: Biggest Additional Purchase in Company’s History

Published: August 19, 2013; 12:01 · (Vindobona)

OMV invests billions in a participation in the North Sea: The Austrian energy company acquires stakes of Norwegian enterprise Statoil in oil and gas fields in the North Sea for around € 2bn.

OMV: Biggest Additional Purchase in Company’s History / Picture: © OMV AG

On Monday, OMV announced its biggest acquisition in the company’s history. In return for $ 2.65bn, around €2bn, the Austrian energy company purchases stakes in oil and gas fields in the North Sea. The seller of this package is Statoil. OMV has to pay a contribution of $ 500m in net costs for the current year. In return, OMV will be granted access to an equivalent of oil reserves of…

This article includes a total of 432 words.

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