OMV moves UK focus to West of Shetlands

OMV (UK) Ltd. has divested interests in the central UK North Sea to concentrate on the West of Shetlands area.

It has sold its 5% interest in licenses around Beryl oil field to a buyer it didn’t identify for $118 million and its 1.5% interest in Boa oil field to Bridge Energy Ltd. for $18 million.

In a swap with Statoil (UK) Ltd., it acquired a 17.5% interest in License P967 in exchange for a 30% interest in License P726.

P967, operated by Total, includes discoveries called Tobermory and Bunnehaven. OMV operates two licenses contiguous with P967. P726 covers a discovery called Mariner East.

OMV holds interests in Schiehallion oil field under redevelopment by a group led by BP and in three discoveries—Rosebank, Cambo, and Tornado—in the area.