Gulf Oil and Gas accountACCOUNT

OMV Completes Acquisition of Interest in the Yuzhno Russkoye Gas Field from Uniper

Source: www.gulfoilandgas.com 12/3/2017, Location: Asia

Share |
OMV has completed the acquisition of a 24.99% share in the Yuzhno Russkoye natural gas field located in Western Siberia from Uniper following fulfillment of all closing conditions including regulatory and co-shareholder approvals.

The purchase price paid by OMV to Uniper amounts to EUR 1,719 mn and includes customary closing adjustments. The transaction takes retroactive economic effect as of January 1, 2017 and was largely funded out of proceeds generated from disposals and OMV’s strong cash flow.

Rainer Seele, Chairman of the OMV Executive Board and CEO: 'The closing of this landmark transaction is a further milestone in OMV´s successful delivery on its corporate strategy to establish Russia as a new core region of OMV. Our stake in Yuzhno Russkoye adds 100,000 boe/d to OMV´s production. This boosts OMV´s total production to more than 430,000 boe/d.'

Johann Pleininger, OMV´s Deputy CEO and Board Member Upstream: 'With this acquisition OMV gets additional recoverable reserves of 580 mn boe. In addition, our production costs will be further decreased.'

The Yuzhno Russkoye field is one of the largest gas fields in Russia, situated in the Yamal-Nenets region. Current plateau production of the field amounts to 25 bn cubic meters per year (100%). The license will expire by the year-end 2043.

Acquisitions and Divestitures News in Russia >>

Italy >>  10/11/2018 - Po Valley Energy is to retain full ownership of two onshore oil fields in northern Italy after their sale to a private London-based resources company,...
Norway >>  10/10/2018 - U.S. oil firm Chevron (CVX.N) will become the first oil major to formally exit the Norwegian continental shelf (NCS) as it transfers its last stake in...

United Kingdom >>  10/9/2018 - AIM-listed Serica Energy has announced that its wholly owned subsidiary,Serica Energy (UK) and BP have received a conditional License and assurance fr...
United Kingdom >>  10/9/2018 - Hibiscus Petroleum has announced that its indirect wholly-owned subsidiary, Anasuria Hibiscus UK ('AHUK'), has entered into a conditional sale and pur...

Senegal >>  10/8/2018 - African Petroleum, an independent oil and gas exploration company with licence interests in offshore West Africa, notes the recent update issued by Pe...
Australia >>  10/5/2018 - Beach Energy Limited and Eyal Ofer’s O.G. Energy Holdings Ltd., a member of the Ofer Global group of companies, announce that they have entered into a...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Russia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 |

Oil & Gas Projects in Russia >>

More News

 

Oil & Gas Companies in Russia >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.