OMV Acquires Yuzhno Russkoye Interest for $1.85B

OMV Acquires Yuzhno Russkoye Interest for $1.85B
OMV acquires a 24.99% participation interest in the Yuzhno Russkoye natural gas field from Uniper SE for a purchase price of $1.85 billion.

OMV revealed Monday that it has acquired a 24.99 percent participation interest in the Yuzhno Russkoye natural gas field from Uniper SE for a purchase price of $1.85 billion.

The effective date of the transaction is January 1, 2017, and the closing of the deal is expected by year end, according to OMV’s investor and analyst webcast, which was attended by Rigzone.



Yuzhno Russkoye was described as a ‘world class field with stable production and cash flow profile’ in a presentation made by the company’s CEO Rainer Seele. The CEO also added that the transaction would strengthen the firm’s strategic partnership with Gazprom.

Located in West Siberia, Yuzhno Russkoye is among the largest gas fields in Russia, according to Johann Pleininger, OMV’s executive board member responsible for upstream, who made the statement in the company’s webcast.

The field was discovered in 1969 and achieved first production in October 2007. Pleininger also highlighted that the asset, which has plateaued production levels of 25 billion cubic metres of gas per year, is a ‘key resource’ for the Nord Stream gas pipeline.

A graduate in journalism from Cardiff University, Andreas has eight years of experience as a business journalist.


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

More from this Author
Andreas Exarheas
Assistant European Editor | Rigzone
 -  Scottish Labour Says Oil, Gas Must Be ... (Jul 7)
 -  Top 10 Highest Paying Oil Jobs for Gra... (Jul 7)
 -  OCA Invites Unions for Fresh Talks (Jul 6)
 -  Total, NIOC Sign South Pars Developmen... (Jul 4)
 -  BB-1 Described as 'Key Well' (Jul 3)

Most Popular Articles

From the Career Center
Jobs that may interest you
Load Planner/ Dispatcher Frac Sand
Expertise: Dispatcher|Project Management
Location: Mansfield, TX
United States Houston: Marketing Specialist
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
Intelligence & Risk Assessment Analyst
Expertise: Legal|Risk Management
Location: San Ramon, CA
search for more jobs

Brent Crude Oil : $48.6/BBL 1.12%
Light Crude Oil : $46.34/BBL 1.24%
Natural Gas : $2.9/MMBtu 2.35%
Updated in last 24 hours