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OMV Signs Major Oil Acquisition in Norway

Published: October 16, 2012; 17:23 · (Vindobona)

“A further important move to establish Norway as core country in OMV’s Exploration and Production portfolio”: The Austrian oil group acquires a 20% stake in the Edvard Grieg oil field development from RWE.

OMV Signs Major Oil Acquisition in Norway / Picture: © OMV AG

OMV acquires a 20% stake in the Edvard Grieg field (formerly Luno, Production Licence 338). The agreement with the seller RWE Dea was signed on October 16. OMV will gain access to 2P reserves in excess of 38 mn boe of oil and associated gas and to production net to OMV of up to 19,000 boe/d in 2016.

Discovered in 2007, the Edvard Grieg field opened a new…

This article includes a total of 581 words.

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