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07.03.2017 11:16
OMV Buys Uniper Stake in Russia's Yuzhno Russkoye Gas Field
OMV has agreed to pay EUR 1.749bn plus cash on the balance sheet per December 31, 2016
AUTHOR: publics.bg


  • © OMV

Austria's OMV announced late March 5 it has signed an agreement to buy a 24.99% share in the Yuzhno Russkoye gas field from Germany's Uniper, as reported by Natural Gas Europe.

OMV has agreed to pay EUR 1.749bn plus cash on the balance sheet per December 31, 2016. The transaction is anticipated to close by end-2017 and be effective from January 1 2017, assuming foreign investment control clearance in Russia and other approvals.

OMV CEO Rainer Seele said: “The acquisition will build a new core area, Russia, in our upstream portfolio adding 100,000 boe/d to OMV’s production. After closing, OMV will produce in total more than 400,000 boe/d. This transaction is fully compliant with the execution of our strategy and significantly reduces OMV’s production cost.”

Yuzhno Russkoye is one of the largest gas fields in Russia, situated in the Yamal-Nenets region of western Siberia. Current plateau production of the field amounts to 25bn m3/yr (at 100%). It is the key resource for the Nord Stream pipeline which supplies Germany directly with Russian gas.


TAGS: OMV | Uniper | deal | Yuzhno Russkoye | gas field | natural gas | oil | upstream | energy | Nord Stream 


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