Chief executive Gerhard Roiss said that the explorer had reoriented its upstream strategy to the UK and Norway – where it has bought three stakes this year at RWE Dea’s Zidane, Statoil’s Aasta Hansteen and Lundin Petroleum’s Edvard Grieg - because of the Arab Spring.
Speaking to journalists at a London briefing, Roiss said the Vienna-based integrated energy player could not strategise around the upheaval in north Africa and the Middle East, adding that the issue was a long-term one.
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