Europe’s oil and gas company OMV considers acquiring assets in Russia, the company’s Deputy Chairman Johann Pleninger said.
Last year, OMV bought a share in the Yuzhno-Russkoye field, having entered into the project of development of the Urengoy field’s fourth and fifth sites. The company plans to produce about 100,000 barrels of oil equivalent per day from the Yuzhno-Russkoye field. Currently, its production costs in the region are below $2 per barrel of oil equivalent.
According to OMV's plans, by the end of this year the company expects to complete the exchange of assets with Gazprom. Thus, OMV will enter the development project of the Urengoy field. The production is scheduled to start in 2020. According to Johan Plaininger, at least 80,000 barrels of oil equivalent are planned to be pumped at the Urengoy field in 2025. In the future, the company is considering the possibility of acquiring additional assets in Russia. At the moment, OMV’s attention is focused on oil fields in the Middle East, Iran and Iraq particularly.
