OMV Takes Over Part Of Hess' Portfolio In The UK

HFA Padded
Hira Shahnawaz Akhtar
Published on
Updated on

OMV AG (ADR) (OTCMKTS:OMVKY) is expanding its asset base in the UK core area. OMV has recently reached an agreement with Hess Corp. (NYSE:HES) to acquire four licenses in the West of Shetland (WoS) area in the United Kingdom. These four licenses include two blocks in Cambo and two others in the Blackrock prospect which have been acquired at a total cost of USD 50 million. Cambo area in the North Sea OMV AG (ADR) (OTCMKTS:OMVKY) has already enjoyed a presence in the Cambo area before and has expanded its share in this field from 15% to 47.5% with the…

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Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.