OMV Signs Agreement on Development of Latif Gas Field

VIENNA - Austrian oil and gas company OMV AG signed a lease deed with its joint-venture partners to OMV and Latif joint venture partners for the development of Latif gas field in Pakistan, the company said Friday.

MAIN FACTS:

  • OMV is the operator of Latif concession and holds a 33.34% interest. The other partners in the joint venture are Eni S.p.A and PPL Corp.
  • OMV is targeting a net production of 5,700 barrels of oil equivalent per day from Latif in 2014 thereby delivering on a key initiative under the group-wide performance program "energize OMV".

Copyright (c) 2012 Dow Jones & Company, Inc.

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