Siccar Point completes purchase of OMV (U.K.)

Offshore staff

VIENNA, AustriaOMV has closed the sale of its wholly owned subsidiary OMV (U.K.) to Siccar Point Energy in Aberdeen.

This follows the fulfilment of agreed to conditions, including regulatory approval.

Siccar Point Energy made a firm closing payment of around $870 million.

The transaction documentation provides for further contingent purchase price elements depending on approval by Chevron and its partners (which included OMV) of the Rosebank field development west of Shetland.

01/13/2017

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