OMV replaces RWE in Edvard Grieg offshore Norway

Offshore staff

HAMBURG, Germany – RWE has completed the sale of its 20% interest in the Edvard Grieg license in the Norwegian North Sea to OMV (Norge), following approval by the Norwegian Ministry of Petroleum and Energy and the Ministry of Finance.

The transaction involves a total consideration of about €255 million ($339 million) plus a contingent payment of up to €35 million ($46.5 million), based on the achievement of certain milestones.

12/19/2012

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