OMV Pays Record $2.65 Billion for Statoil North Sea Oil, Gas

OMV AG, the biggest central European energy company, paid $2.65 billion to Statoil ASA in its largest deal on record for stakes in four North Sea oil and gas fields as it seeks stable output after disruptions in Libya and Yemen.

The deal includes 24 percent of Statoil’s Gudrun and 19 percent of its Gullfaks field, and options on 11 exploration licenses, the companies said today in separate statements. Statoil seeks to free up cash to invest in new developments.