OMV buys RWE Deas Edvard Greig stake

OMV AG has acquired RWE Dea’s 20% interest in Edvard Greig oil and gas field under development in the North Sea offshore Norway. OMV paid €247.9 million plus a contingent payment based on performance.

Operator Lundin Norway AS, which holds a 50% interest, received approval to develop the field with a fixed platform in about 110 m of water last June (OGJ Online, June 12, 2012). Peak production is expected to be 19,000 boe/d.

Wintershall Norge AS holds 30%.

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