OMV has been present in Libya since 1975 and undertook a major expansion in 1985 when it acquired 25% of Occidental Petroleum’s producing assets in the country.
In 1994 and 1997 OMV signed Exploration & Production Sharing Agreements (EPSA) for blocks NC115 and NC186 with partners Repsol, TOTAL and Statoil. Exploration is ongoing in these fields and several infill drilling projects are being implemented.
In 2008 several EPSA agreements were renewed. OMV extended the agreements until 2032 and will take part in significant redevelopment projects, such as the Nafoora field redevelopment. The projects aim to boost production by applying latest improved and enhanced oil recovery technologies, drilling of several hundred wells and the upgrade of facilities. OMV’s core competencies of managing, operating and optimizing mature oilfields can be applied in the many projects that OMV is part of in Libya.
Over past decades OMV has built strong relations with Libya and it people. OMV has worked closely with Libyan authorities on social projects including the development of a hospital in Ubari, a blind school in Tripoli and more recently the OMV Libya Youth Centre in Tripoli. This was built to cure young people particularly those who were psychologically affected and traumatized by the events around the Arabian Spring.