Contact
OMV Websites
en de
OMV Websites
OMV Websites
OMV www.omv.com Austria www.omv.at Bulgaria www.omv.bg Czech Rep. www.omv.cz Germany www.omv.de Hungary www.omv.hu New Zealand www.omv.nz Norway www.omv.no Romania www.omv.ro Russia www.omv.ru Serbia www.omv.co.rs Slovakia www.omv.sk Slovenia www.omv.si Tunisia www.omv.tn Turkey www.omv.com.tr UAE www.omv.ae
OMV Gas Websites
OMV Gas www.omv-gas.com Austria www.omv-gas.at Belgium www.omv-gas.be Germany www.omv-gas.de Hungary www.omv-gas.hu Netherlands www.omv-gas.nl
OMV Petrom Websites
OMV Petrom www.omvpetrom.com Petrom Romania www.petrom.ro Petrom Moldova www.petrom.md
Borealis Websites
Borealis Group www.borealisgroup.com
Close

OMV closes acquisition deal with Statoil

October 31, 2013 - 2:30 pm (CET)

  • OMV buys Statoil assets in the North Sea
  • Transaction value of USD 2.65 bn
  • OMV is now producing oil and gas in Norway

OMV, the integrated, international oil and gas company, has closed the acquisition of assets in Norway and the UK (West of Shetland area) from Statoil. Approval has been granted by the relevant authorities.

OMV acquired 19% in the producing Gullfaks field and 24% in the Gudrun field; both offshore oil and gas fields on the Norwegian Continental Shelf. In addition, OMV took over 30% in Rosebank and 5.88% in Schiehallion, both located west of the Shetland Islands and assets where OMV already holds a stake in. In addition, the transaction with Statoil involves an R&D partnership between the two companies and the option of farm-in agreements for further exploration licences.

OMV CEO Gerhard Roiss: “The transaction is a key part of OMV’ s strategy of focusing on exploration and production in politically stable markets and will be a substantial factor in achieving our 2016 targets. We are thereby bolstering our position in the heart of our North Sea growth region.”

OMV will substantially increase its reserve base. Proven and probable reserves will climb by about 320 mn boe. Production contribution will be approximately 25,000 boe/d as of November 1, 2013 and is expected to rise to about 40,000 boe/d during 2014 with a planned increase to approximately 58,000 boe/d during 2016.

The effective date of the transaction is January 1, 2013. No adjustments for OMV were due at closing for the year 2013. The transaction was largely funded out of the proceeds generated by working capital reductions and disposals from the downstream business segments as well as the company’s strong cash flow – in the first half 2013 OMV had a free cash flow of around EUR 1.6 bn. Existing credit lines were also utilized.

Background information:

OMV Aktiengesellschaft
With Group sales of EUR 42.65 bn and a workforce of around 29,000 employees in 2012, OMV Aktiengesellschaft is Austria’s largest listed industrial company. In Exploration and Production, OMV is active in two core countries Romania and Austria and holds a balanced international portfolio with a production of around 303,000 boe/d in 2012. In Gas and Power, OMV sold approximately 437 TWh of gas in 2012. In Austria, OMV operates a 2,000 km long gas pipeline network with a marketed capacity of around 103 bcm in 2012. In Refining and Marketing, OMV has an annual refining capacity of 22 mn t and as of the end of 2012 approximately 4,400 filling stations in 13 countries including Turkey.

OMV in Norway
OMV (Norge) AS is a 100% subsidiary of OMV Exploration & Production GmbH, founded in 2006 with its headquarters in Stavanger. OMV Norge partners the ongoing field development projects Aasta Hansteen, Zidane and Edvard Grieg as well as the infrastructure project Polarled and concentrates on exploration activities in the border areas in the northern part of the Norwegian Sea and in the Barents Sea. OMV (Norge) AS has built up a portfolio of 23 licenses: 11 in the Barents Sea, 11 in the Norwegian Sea and 1 in the North Sea. 9 licenses are operated by OMV.

OMV in the UK
OMV (U.K.) Limited, a 100% subsidiary of OMV Aktiengesellschaft located in London, has been active in the United Kingdom for over 20 years. OMV UK holds a considerable portfolio of licenses in the British North Sea and in the area west of the Shetland Islands. The company has been an operator there since 2004. OMV UK will concentrate its business activities on the core area West of Shetlands.

OMV Media Relations: 
Johannes Vetter, Tel,: +43 1 40440 22729, e-mail: johannes.vetter@omv.com
Robert Lechner, Tel.: +43 1 40440 21472, e-mail: robert.lechner@omv.com

OMV Investor Relations:
Felix Rüsch, Tel.: +43 1 40440 21600, e-mail: investor.relations@omv.com
 
Web: www.omv.com

Social: http://twitter.com/omv