Contact
OMV Websites
en de
OMV Websites
OMV Websites
OMV Group www.omv.com Austria www.omv.at Bulgaria www.omv.bg Czech Rep. www.omv.cz Germany www.omv.de Hungary www.omv.hu New Zealand www.omv.nz Norway www.omv.no Romania www.omv.ro Russia www.omv.ru Serbia www.omv.co.rs Slovakia www.omv.sk Slovenia www.omv.si Tunisia www.omv.tn Turkey www.omv.com.tr UAE www.omv.ae
OMV Gas Websites
OMV Gas www.omv-gas.com Austria www.omv-gas.at Belgium www.omv-gas.be Germany www.omv-gas.de Hungary www.omv-gas.hu Netherlands www.omv-gas.nl
OMV Petrom Websites
OMV Petrom www.omvpetrom.com Petrom Romania www.petrom.ro Petrom Moldova www.petrom.md
Borealis Websites
Borealis Group www.borealisgroup.com
Close

OMV Petrom divests production assets in Kazakhstan

  • Company to focus on the Black Sea region

OMV Petrom, the largest energy company in Southeastern Europe, signed the transaction for the sale of its 100% shareholding in Kom-Munai LLP (KOM) and Tasbulat Oil Corporation LLP (TOC) in Kazakhstan to MAGNETIC OIL LIMITED. KOM and TOC hold the production licenses for four onshore fields, respectively Komsomolskoe, Aktas, Tasbulat and Turkmenoi. The cumulated daily production of the four fields was 6.45 kboe/d in 2019, representing ~4% of the group production.

Closing of the transaction is subject to certain conditions precedent including approval by the Kazakh Ministry of Energy and is expected in the first half of 2021.

OMV Petrom entered the Upstream sector in Kazakhstan in 1998. The business has been stable, but no further in-country expansion has been realized in the last few years and OMV Petrom has decided to shift the focus of its international upstream business to the Black Sea.

All fields are located in the Mangistau region of West Kazakhstan near the Caspian Sea. The four onshore fields cover a total area of 86.52 km², including approximately 75 wells, production facilities and 200 km of pipelines.

Christopher Veit, member of the Executive Board of OMV Petrom, in charge with Upstream activity:” The decision will allow us to focus on the Black Sea region and continue to build a strong position in the area, in line with our growth strategy. We have already made important steps for expanding our offshore presence in the Black Sea, by entering Bulgaria at the end of last year and by winning an international tender in Georgia this year.”