OMV completes acquisition of 24.99% interest in the Yuzhno Russkoye gas field from Uniper
OMV News, December 1, 2017 - 10:30 am (CEST)
OMV, the international integrated oil and gas company based in Vienna, has completed the acquisition of a 24.99% share in the Yuzhno Russkoye natural gas field located in Western Siberia from Uniper SE following fulfillment of all closing conditions including regulatory and
The purchase price paid by OMV to Uniper amounts to EUR 1,719 mn and includes customary closing adjustments. The transaction takes retroactive economic effect as of January 1, 2017 and was largely funded out of proceeds generated from disposals and OMV’s strong cash flow.
Rainer Seele, Chairman of the OMV Executive Board and CEO: “The closing of this landmark transaction is a further milestone in OMV´s successful delivery on its corporate strategy to establish Russia as a new core region of OMV. Our stake in Yuzhno Russkoye adds 100,000 boe/d to OMV´s production. This boosts OMV´s total production to more than 430,000 boe/d.”
Johann Pleininger, OMV´s Deputy CEO and Board Member Upstream: “With this acquisition OMV gets additional recoverable reserves of 580 mn boe. In addition, our production costs will be further decreased. ”
The Yuzhno Russkoye field is one of the largest gas fields in Russia, situated in the Yamal-Nenets region. Current plateau production of the field amounts to 25 bn cubic meters per year (100%). The license will expire by the year-end 2043.
OMV is producing and marketing oil & gas, innovative energy and high-end petrochemical solutions – in a responsible way. With Group sales of EUR 19 bn and a workforce of around 22,500 employees in 2016, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Upstream, OMV has a strong base in Romania and Austria and a balanced international portfolio. 2016 daily production stood at approximately 311,000 boe/d. In Downstream, OMV has an annual refining capacity of 17.8 mn tonnes and more than 2,000 filling stations in ten countries as of June 2017. OMV operates a gas pipeline network in Austria and gas storage facilities in Austria and Germany. In 2016, gas sales volumes amounted to 109 TWh.
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