OMV completes £1.5bn Siberian gas field purchase

OMV news
OMV news

Austrian energy firm OMV has tied up its deal with Uniper for a 24.99% stake in the Yuzhno Russkoye gas field in Western Siberia for £1.5billion.

OMV chief executive Rainer Seele said : “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.”

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 25billion cubic metres per year.