October 6, 2006
Austrian oil and gas company OMV has completed the sale of its exploration
Austrian oil and gas company OMV has completed the sale of its exploration and production assets in Ecuador to partner Perenco & Burlington. No financial details of the deal were disclosed. OMV acquired the assets in 2003 when it bought German Preussag Energie. However, OMV said it was divesting itself of the Ecuadorian assets to concentrate on its core regional market of Central Europe.