NEWS ROUNDUP

摘要

Austria's OMV has agreed to sell its wholly owned UK upstream subsidiary to Aberdeen-based Siccar Point Energy for up to $1 billion. OMV will receive $750 million plus a contingent payment of up to $125 million that is tied to a final investment decision being taken on the Rosebank field in the North Sea. The agreement also includes a purchase price adjustment of up to $125 million related to capital spending at Rosebank. OMV UK has interests in 22 licenses, including a 20% stake in the Chevron-operated Rosebank project and stakes in the ConocoPhillips-operated Jade field and the BP-operated Schiehallion redevelopment. OMV CEO Rainer Seele said the sale of the company's UK operations would help to "rebalance and optimize the OMV upstream portfolio." The transaction — expected to close in the first quarter of 2017 — continues a flurry of M&A activity in the North Sea that has seen larger companies like OMV reduce their exposure to the mature region and smaller players like Siccar Point snap up assets. OMV had previously sold a 30% interest in Rosebank to Canada's Suncor (EIF Aug. 17'16). Siccar Point is led by Jonathan Roger, the former head of Centrica's upstream oil and gas unit. It is backed by private equity firms Blackstone of the US and Blue Water Energy of the UK.