OMV enters Norway
Posted: 06 March 2006
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OMV announced that it will open an office in Norway to evaluate E&P opportunities. The announcement came after OMV Exploration and Production GmbH, a 100% subsidiary of OMV Aktiengesellschaft was informed by the Norwegian Ministry of Petroleum and Energy on 28 February 2006, that it had pre-qualified as an Operator on the Norwegian Continental Shelf.
Helmut Langanger, OMV Executive Board member responsible for exploration and production said: “We are delighted having received the green light from the Norwegian Ministry to explore for oil and gas on the Norwegian Continental Shelf. OMV will open a branch office in Norway later this month and participate in the upcoming 2006 Awards in Predefined Areas (APA) announced by the Norwegian Energy Minister on 21 February 2006.”
The release contains 192 blocks in the North Sea, Norwegian Sea and Barents Sea, he added.
The move into Norway is part of an expansion of OMV’s E&P portfolio in context with OMV’s 2010 growth strategy to increase its daily oil and gas production from 340,000 to 500,000 barrels oil equivalent.
OMV E&P is now engaged in 18 countries worldwide and organized in five core regions; namely the Danube and Adriatic, Northern Africa, the British North Sea/Norwegian Sea, the Middle East/Caspian and Australia/New Zealand. As a result of the acquisition of 51% of Petrom, Romania’s largest oil company, OMV’s daily production volume is approximately 340,000 boe/d, and the company’s reserves approximately 1.4 bn boe.
Posted by Editor Pipeline Magazine
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