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OMV to Purchase a 24.98% Interest in Achimov IV & V Phase Development

Source: www.gulfoilandgas.com 10/3/2018, Location: Asia

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OMV and Gazprom have signed a 'Basic Sale Agreement' which foresees a potential acquisition of a 24.98% interest in the Achimov IV and V phase development in the Urengoy gas and condensate field by OMV for a purchase price to be negotiated in good faith.

The 'Basic Sale Agreement' replaces the 'Basic Agreement' concluded between OMV and Gazprom on December 14, 2016 which provided for a potential asset swap of the aforementioned interest against a 38.5% participation of Gazprom in OMV (NORGE).

The execution and implementation of the potential transaction is, amongst others, subject to agreement with Gazprom on the final transaction documents and regulatory and corporate approvals at a later stage. The signing of the final transaction documents is expected in the beginning of the year 2019.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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