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

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.

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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.

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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