Oil and gas group OMV says it has yet to suffer any knock-on effect from the latest round of Libyan oil strikes – despite seeing profits down this quarter.
Operations in the crisis-torn African country account for 10 percent of OMV’s total production, but outages in Libya have caused significant disruption to production for the group in previous months.
However, the company said the latest round of strikes, which have shut down export terminals and oilfields in the country, has not yet impacted on OMV’s operations there.
The news came as the company posted a 15% drop in second quarter profits to EU733million, while net income fell 29% year on year to EU321million
Increased exploration expenses due to write-offs in Tunisia, and lower production from Libya and the North Sea, were attributed to the drop.
The company, which owns a 20% stake in the massive Rosebank project off Shetland, is looking to launch a recruitment drive to attract 1600 new staff over the next three years.