OMV Upstream has operations in Europe, Russia, the Middle East, Africa and Australasia with a solid safety record. In 2017, daily production was 348 kboe/d.
The strategic priorities of OMV’s Upstream business are to renew and improve the quality of the asset base, double reserves, extend the track record of operational excellence and increase cash generation.
Key Figures Q3/2018
Key achievements 2017
- Highest production level in last five years
- Acquisition of 24.99% share in the Yuzhno Russkoye natural gas field adding approximately 100 kboe/d to OMV’s daily production
- Selected divestments in line with the focus on low-cost production regions and sustainable reserves replenishment
- Further optimization of production costs
- Focused portfolio with 4 core regions and 1 development region
- Well positioned in attractive regions
- Low production cost
- Strong partnerships with major players in hydrocarbon-rich regions