OMV and Sapura Energy have agreed on a strategic partnership under which OMV will buy a 50% stake of the issued share capital in a new JV designated SEB Upstream (SUP). OMV will pay USD 540 MM for its stake, however the parties also agreed to an additional (up to) USD 85 MM based on certain conditions mainly linked to resources in block 30, Mexico. Through this deal OMV aims towards establishing Australasia as a new core region. Completion of the deal is subject to Sapura Energyâs shareholder approval, Petronas approval and other 3rd party consents inter alia.
OMV and Sapura Energy have agreed on a strategic partnership under which OMV will buy a 50% stake of the issued share capital in a new JV designated SEB Upstream (SUP). OMV will pay US$540 MM for its stake.