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OMV eyes Russian gas-oil production, asset swap with Gazprom to boost financing

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According to OMV chief executive, Austrian energy company plans to produce over 50,000 barrels of oil equivalent (boe) a day at Russian oil and gas fields post 2020 as part of its new strategy.

Austrian energy company OMV AG plans to produce over 50,000 barrels of oil equivalent (boe) a day at Russian oil and gas fields post 2020 as part of its new strategy, its chief executive said Thursday.

OMV is one of Austria’s largest industrial companies. It operates a gas pipeline network in Austria and gas storage facilities in Austria and Germany, in addition to some 4,100 filling stations in eleven countries, as of 2014.

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The OMV Executive Board presented a new development strategy on Thursday that set objectives for coming years.

Together with the United Arab Emirates and Iran, Russia was identified as a major region for future development. Until now, OMV has considered Austria and Romania, the North Sea, the Middle East and Africa as core regions for energy production.

source; sputnik


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