OMV Buys Gas Discovery from Norwegian Noreco

Published: October 21, 2011; 11:52 · (Vindobona)

Norwegian Energy Company (Noreco) has entered into an agreement to sell its 20 percent share of license on Haltenbanken to Austrian OMV.

OMV Buys Gas Discovery from Norwegian Noreco / Picture: © OMV AG

The License contains the gas discovery Zidane-1 which was made in 2010. This discovery is estimated to contain between 5 and 18 billion standard cubic metres of recoverable gas. The second exploration well in the license is named Zidane-2 and is planned to be drilled later this year.

Noreco will receive a consideration of € 23m upon completion of the transaction. Under the…

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OMV Buys Gas Discovery from Norwegian Noreco

Norwegian Energy Company (Noreco) has entered into an agreement to sell its 20 percent share of license on Haltenbanken to Austrian OMV.

Join us to succeed in Vienna!
Sign up to read articles for free and to get personalized updates on the events that interest you.