The license was awarded by the Norwegian Ministry of Petroleum and Energy in the course of the APA 2007 licensing round. The expansion of activities in the core region of northwest Europe is reportedly in line with OMV’s growth strategy.
The license will be operated by OMV with a 50% interest and Sagex Petroleum Norge with a 50% stake. OMV Norge has interests in five Norwegian licenses with two in the Barents Sea, one in the North Sea and two in the Norwegian Sea.
Helmut Langanger, OMV’s executive board member responsible for exploration and production (E&P), said: With our new exploration license we are well on track to build a strong position as exploration operator in Norway. The step by step expansion of our portfolio in Norway strengthens our E&P position in this core region.
