Middle East Economic Survey


No 35



OMV Sells 7.5% Interest In Blocks 12, 13 To Marubeni

OMV announced on 24 August it had signed a sales agreement with Japans Marubeni Corporation for its 7.5% interests in Blocks 12 and 13 in Qatar, representing equity production of about 1,100 b/d in 2004. The disposal is part of OMVs upstream rationalisation. Completion of the transaction is subject to approvals by the Qatari government and consortium partners, which are expected...