UPDATE 1-OMV agrees to pay Gazprom $1 bln for Siberian gas assets [Reuters (UK)]
OMV AG BEARER SHS S/ADR (OMVKY)
NASDAQ:AMEX Investor Relations:
omvpetrom.com/portal/01/petromcom/petromcom/omv_petrom/investor_relations/omv-petrom-shares-gdrs/shareholding-and-stock-listing-history/!ut/p/b0/04_sj9cpykssy0xplmnmz0vmafgjzoin_e0tar0cny1cddw9pxw93hwndsbapzg1t78g21erac3xr1e!
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Source: Reuters
OMV agrees to pay Gazprom $1 billion for Siberian gas assets - Reuters 1 Min Read VIENNA (Reuters) - Austria’s OMV said on Friday it had agreed to pay 905 million euros ($1.02 billion) for Siberian gas assets from Russia’s Gazprom. OMV’s planned purchase of 24.98 percent of the Achimov IV and V phase development at the Urengoy gas fields is an part of its strategy to increase gas in its upstream business as an alternative to oil. Production at the Achimov blocks is forecast to start next year, according to OMV. OMV said in 2026 gas from the field is expected to generate more than 80,000 barrels of oil equivalent per day (boe/d). The company produced 474,000 boe/d in the first quarter, more than 20 percent of it in Russia. The transaction still requires approval from OMV’s supervisory board, an agreement with Gazprom on the final transaction documents and regulatory approvals at a later stage, OMV said. The signing of the final transaction documents is expected to take place by the end
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