OMV wins offshore licence - Emirates24|7

OMV wins offshore licence

Energy company OMV yesterday said it has been awarded one additional offshore exploration licence in Norway. The new licence, PL 517, is located in the Barents Sea, and will be operated by OMV (Norge) in a joint venture with Sagex Petroleum Norge, it said.

The licence was awarded by the Norwegian Ministry of Petroleum and Energy in the course of the APA (Awards in Predefined Areas) 2008 round. OMV now has interests in seven licences in Norway.

Helmut Langanger, OMV Executive Board member, responsible for exploration and production, said: "With our new exploration licence we are well on track to build a position as an exploration operator in Norway. Recent investments, high quality standards and a strong commitment to the region have proven that OMV is one of the most sustainable companies in the business, operating with a clear strategy for further developments." A total of seven licences have been awarded to OMV over the past two years.

The new licence PL 517 in the Barents Sea will be operated by OMV (60 per cent) with Sagex Petroleum Norge (40 per cent) as partner. As part of the work programme, the joint venture will acquire 3D seismic over the licence area.

OMV now operates three licences in the Barents Sea, one of the prime growth regions on the Northwest European Continental Shelf.

The Barents Sea offers a challenging operating environment, which requires the use of leading edge technology through the whole upstream lifecycle.

OMV holds a balanced international E&P portfolio in 20 countries structured around six core and important regions, namely CEE, North Africa, Northwest Europe, the Middle East, Australia/New Zealand and Russia/Caspian region.

 

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