Austria's OMV Follows Up Domestic Natural Gas Find With One Off Norway [Forbes]
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: Forbes
In a statement on Friday, the company said it had completed a drilling operation in the Norwegian Sea targeting its Haydn/Monn exploration prospects. Its drill found preliminary estimated total recoverable natural gas volumes up to 140 million barrels of oil equivalent (boe). The deepwater exploration prospect in the Norwegian Sea is located 300km west of the Norwegian mainland at a water depth of 1,064m. In terms of getting the product to market, the discovery is approximately 65km from the existing infrastructure of the Polarled pipeline and the Aasta Hansteen field and industry hub in which the company already has a stake. Berislav Gašo, Executive Vice President of Energy at OMV, said: "By focusing on gas as a transition fuel, OMV is investing in affordable energy solutions and contributing to a more sustainable energy mix. We aim to increase the share of gas in our production portfolio to 60% by 2030. "This latest commercial discovery will further advance our diversificatio
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