OMV awarded two new exploration licenses in Norway

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2010 Mar 12

OMV, the leading energy Group in Central and Southeastern Europe, strengthens its E&P position in the core region Northwestern Europe by adding two more exploration licenses to its portfolio.

The first of the new licences, PL 557, is located in the Norwegian Sea approximately 200 km north-west of Trondheim. The joint venture partners are Repsol Exploration Norge AS and Skagen 44 AS. The second license, PL 564 is in the southern part of the Barents Sea, an area where OMV has already established a strong presence.

Joint venture partners are Wintershall Norge ASA and North Energy ASA. Both new licenses are operated by OMV (Norge) AS with a 50% interest. Wolfgang Remp, OMV Senior Vice President E&P International, stated: “The addition of the new licenses supports our continuing efforts to build up a substantial exploration portfolio in Norway, a country that will play an ever important role as part of OMV’s core region Northwestern Europe”. OMV (Norge) AS is planning to start with the acquisition of 3D seismic data in both blocks in 2010.

Source: MaritimeAndEnergy.com

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