CEO: OMV Further Ramping Up Norway Production


VIENNA, May 19 (Reuters) – Austrian oil and gas group OMV is further ramping up production in the North Sea around Norway, with output having hit 50,000 barrels of oil equivalent per day (boe/d) there, Chief Executive Gerhard Roiss told shareholders on Tuesday.

Roiss had said earlier this month output in Norway, where OMV had no production in 2010, was between 40,000 and 45,000 boe/d.

A slump in oil prices forced OMV last year to slow down its investment programme and throw its target to produce 400,000 boe/d by 2016 over board. It produced 309,000 boe/d last year. Production stops in Libya and Yemen due to security problems have pushed OMV to move into more expensive markets in the North Sea.

(Reporting By Shadia Nasralla; Editing by Michael Shields)


Copyright 2017 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
United States Odessa: Field Engineer - Logging and Perforating
Expertise: Field Development
Location: Odessa, TX
Project Procurement & Contracts Advisor (Subsea Equipment)
Expertise: Contracts Engineer|Purchasing|Subsea Engineering
Location: Houston, TX
Drilling Engineer II Job
Expertise: Drilling Engineering|Petroleum Engineering
Location: Houston, TX
search for more jobs

Brent Crude Oil : $54.16/BBL 0.44%
Light Crude Oil : $51.37/BBL 0.56%
Natural Gas : $3.37/MMBtu 2.12%
Updated in last 24 hours