OMV receives six exploration licenses offshore Norway

7/8/2013

OMV receives six exploration licenses offshore Norway

STAVANGER -- OMV has been awarded six additional offshore exploration licenses in Norway, acting as operator for two of them. The licenses were awarded by the Norwegian Ministry of Petroleum and Energy out of the 22nd Exploration license round. The licenses are located in OMV Norge’s main interest areas in offshore Mid Norway and in the Barents Sea.

Two of the new awards are aimed at exploring for gas resources in the deep water area of the Vøring Basin in the Northern part of the Norwegian Sea. Both licenses are operated by OMV (60%) with PGNiG (40%) as partner. The awards of PL 702 and PL 703 are strategically supporting the long-term perspective of OMV’s current investments in the Aasta Hansteen and Polarled projects, designed as a future gas hub.

The four new licenses in the Barents Sea are a significant expansion of OMV’s existing portfolio in this emerging area. The new licenses PL 615 B and PL 723 are currently the northernmost licenses in Norway and located on the Hoop High, a Barents Sea frontier area. This area will see exploration drilling by OMV as operator in the already existing PL 537 license (Wisting) this summer and by Statoil at PL 615 (Apollo) in 2014, therefore the new awards secure interesting follow-up potential. The licenses PL 711 and PL 721 are at the western margin of the Barents Sea, which is also seeing increased activities.

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