OMV Company News
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SapuraOMV Achieves First Gas from Larak Field Offshore Malaysia
Monday, January 13, 2020 SapuraOMV Upstream has achieved within budget first production from its Larak gas field offshore Malaysia under the SK408 Production Sharing Contract (PSC).
Tunisia's Big Gas Field About to Start Pumping
Tuesday, November 12, 2019 Tunisia's biggest energy project -- a long-delayed, $1.2B joint venture with Vienna-based OMV AG -- will start producing natural gas by the end of the year.
Kremlin Accuses Trump of Trying to Bully Europe into Buying US LNG
Thursday, July 12, 2018 The Kremlin on Thursday rejected U.S. President Donald Trump's description of Germany as a "captive" of Russia.
Austria's OMV to Invest in UAE Offshore Oilfields in $1.5B Deal with ADNOC
Thursday, April 05, 2018 Austrian oil and gas group OMV said it will take a 20 percent interest in two oilfields off the United Arab Emirates under a $1.5 billion deal agreed with the Gulf state's national oil company ADNOC.
OMV Ramps Up Search For Gas In Austria
Monday, January 29, 2018 OMV is ramping up its geological survey work in Austria with a view to increasing its market share.
Qatargas Signs Deal To Deliver LNG To Austria's OMV
Wednesday, December 20, 2017 Qatargas agrees a sale and purchase deal with OMV.
CEO: OMV To Become Bigger, Grow Marketing Outside Of Europe
Wednesday, December 20, 2017 OMV will expand further, focus on more value-added refined products and grow its marketing beyond Europe, its CEO says.
Sharp Fall In Applications For Norway's Arctic Oil Permits
Tuesday, December 05, 2017 Norway's attractiveness as an oil region took a hit when energy authorities said 11 oil firms applied for stakes in exploration blocks in its latest oil licensing round
OMV Flags Higher 3Q Margins, Kurdistan Windfall
Friday, October 13, 2017 OMV says its refining margin rose to $7.04 per barrel in the third quarter.
Gas Pipeline Through Central Europe to Go Ahead As Planned -Romania
Thursday, September 28, 2017 The pipeline, BRUA, will ultimately be able to carry 4.4 billion cubic meters of gas from Bulgaria and Romania to Austria by 2022.
Austria's OMV Moves Workers In Tunisia Over Gas Field Protests
Thursday, May 04, 2017 OMV has taken around 700 non-essential staff and contractors out of projects in southern Tunisia after protesters demanding jobs threatened to disrupt operations.
OMV Acquires Yuzhno Russkoye Interest for $1.85B
Monday, March 06, 2017 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, Dana Energy Sign Iranian Oil, Gas MoU
Wednesday, January 25, 2017 OMV and Dana Energy Company sign a Memorandum of Understanding to evaluate possible upcoming development and re-development projects in the Iranian oil and gas industry.
Gazprom, OMV Reach Basic Deal On Swap Of Norway, Siberia Assets
Wednesday, December 14, 2016 Gazprom and OMV agreed on a basic deal on Wednesday for a swap of a 38.5% stake in OMV's Norwegian unit for a 25% stake in a part of Gazprom's Urengoy gas field.
OMV CEO Hopes For Asset Swap Deal With Gazprom Before Year-End
Thursday, November 17, 2016 Austria's OMV is confident it can reach a basic agreement on a planned asset swap with Russia's Gazprom before year-end.
OMV Says Wisting Arctic Discovery May Exceed 1B Barrels
Thursday, November 17, 2016 OMV's Wisting discovery in the Barents Sea could contain more than 1 billion barrels of oil equivalents, potentially making it the largest find in the Norwegian Arctic so far.
OMV To Sell UK Subsidiary for up to $1B
Wednesday, November 09, 2016 Integrated oil company OMV agrees to sell 100% of the shares in its wholly owned subsidiary OMV (U.K.) Limited to Siccar Point Energy Limited for an overall transaction value of up to $1 billion.
OMV Sells UK Business In Retreat From Costly Exploration
Tuesday, November 08, 2016 OMV is selling its UK business to Siccar Point Energy, putting an end to the Austrian oil and gas group's exploration activities in Britain.
Gazprom Wants More Than 25% Of OMV North Sea Assets
Thursday, September 15, 2016 Gazprom wants more than 25% of OMV's Norwegian North Sea holding company but is being prevented from taking a larger stake by Norway, the Russian company's deputy told Reuters.
Quadrant Fails to Find Hydrocarbons at Driftwood-1 Well in Carnarvon Basin
Tuesday, August 16, 2016 Quadrant Energy fails to find hydrocarbons at the Driftwood-1 prospect in permit WA-320-P in the Carnarvon Basin offshore Western Australia.
OMV Intensifies Investment, Cost Cuts As Oil Price Weighs
Wednesday, August 10, 2016 OMV is cutting its investments and costs further to counteract low oil prices which have sent its adjusted second-quarter operating profit down 43 percent to $238.67 million.
OMV Agrees To Sell 30% Stake In British Rosebank Field To Suncor
Tuesday, August 09, 2016 OMV has agreed to sell most of its 50% stake in the British Rosebank field to Canada's Suncor Energy.
Polish Antimonopoly Office Says Nord Stream 2 Threatens Competition
Friday, July 22, 2016 Poland's antimonopoly watchdog a proposed joint venture by Russia's Gazprom and five European firms responsible for the construction of Nord Stream 2 would undermine competition.
New OMV CFO to Start July 1
Friday, May 13, 2016 OMV Aktiengesellschaft's new chief financial officer, Reinhard Florey, will start his role July 1.
OMV Q1 Adjusted Operating Profit Falls By Half
Wednesday, May 11, 2016 OMV's adjusted operating profit in Q1 fell 50% to $190 million as low oil prices keep gnawing at its upstream profit.
OMV Increases Production in 1Q 2016
Thursday, April 21, 2016 OMV Aktiengesellschaft's hydrocarbon production in 1Q increases by 1% over the previous quarter to 312,000 barrels of oil equivalent per day.
Oil Firm Sequa Petroleum Calls Off Planned Deals with Total, OMV
Tuesday, April 19, 2016 Sequa Petroleum calls off 2 planned acquisitions of Norwegian offshore field interests, one from France's Total and the other from Austria's OMV, due to tough market conditions.
OMV: Wisting Central II Achieves 5,000 Bopd Flow Rate
Wednesday, April 06, 2016 The Wisting Central II horizontal appraisal well in the Barents Sea achieves flow rates of over 5,000 barrels of oil equivalent per day.
ADNOC, OMV, Occidental Sign Exploration Agreement in UAE
Monday, March 21, 2016 ADNOC, OMV, and Occidental Petroleum sign an agreement to conduct a four-year seismic, drilling and engineering work program for exploration, appraisal and potential field developments in Abu Dhabi.
OMV Supervisory Board Chairman Resigns
Friday, March 04, 2016 OMV's Supervisory Board Chairman Peter Oswald announces that he will step down from May 18, 2016.
OMV: New Strategy Focuses on Sustainable Upstream Business
Thursday, February 18, 2016 Austria's OMV lays out a new strategy that focuses on safeguarding cash flow and a sustainable upstream business.
Statoil Agrees to Acquire 30% Stake in New Zealand's PEP 57073
Wednesday, February 17, 2016 Statoil agrees to acquire a 30% working interest in Petroleum Exploration Permit (PEP) 57073 in New Zealand from OMV.
Statoil Acquires 30% Stake in Exploration Permit PEP 57073 Off New Zealand
Tuesday, February 16, 2016 OMV farms out a 30 percent stake in exploration permit PEP 57073 in the Pegasus Basin offshore New Zealand to Statoil.
Austria's OMV Aims to Sell Turkish Unit Petrol Ofisi
Friday, February 12, 2016 OMV seeks a buyer for its Turkish unit, Petrol Ofisi, in line with the firm's strategy of focusing on upstream and integrated downstream businesses.
OMV Takes Fresh Charges as Cuts Oil Price Forecast
Friday, January 29, 2016 Low oil prices force OMV to take writedowns totalling EUR 1.8 billion ($2 billion), underlining the problems facing the company.
OMV Appoints New CFO
Tuesday, January 19, 2016 OMV appoints Reinhard Florey as its new chief financial officer, effective August 1 2016, at the latest, according to a company statement.
Investors Wary As Russian Pipeline Project Splits EU
Tuesday, December 22, 2015 Investors are wary of pouring money into a planned doubling of Gazprom's Nord Stream gas link to Germany, analysts said, amid doubts about regulatory approvals and deep political divisions.
Sequa Calls Off Purchase of Norway Offshore Assets from Wintershall
Tuesday, December 22, 2015 Sequa Petroleum has called off a planned $602 million purchase of Norwegian offshore field interests from Wintershall, the oil and gas subsidiary of BASF, citing a poor market environment.
Edvard Grieg Field Begins Production
Monday, November 30, 2015 The Edvard Grieg oil field, located in the Norwegian North Sea, begins production.
Eastern Europe Focused Energy Firms Increase CAPEX
Tuesday, November 24, 2015 Nostrum Oil & Gas and PJSOC Bashneft increase capital expenditure in 9M 2015, bucking the trend of CAPEX reduction among energy firms amid the current lower oil price.
The Upstream Investment Outlook of European Oil, Gas Firms
Tuesday, November 24, 2015 Rigzone looks at the current state of upstream investment among European oil and gas firms.
Plan For Norway's Zidane Field May Be Presented In Summer 2016
Thursday, November 19, 2015 A plan for developing Norway's Zidane natural gas field could be presented in the second or third quarter of 2016, according to an OMV representative.
Aptomar Secures Monitoring Services Contract with OMV
Thursday, November 19, 2015 Aptomar signs a 3 year frame agreement with OMV Norway to deliver integrated field monitoring services for the operator's future drilling activities.
OMV CEO, Ex-German Chancellor in Call for Better Russia/EU Relations
Tuesday, November 10, 2015 OMV is banking on better relations between Europe and Russia after making several deals in recent months with Gazprom.
OMV Sees 3Q Profit Boost in Spite of 'Weak' Upstream Performance
Thursday, November 05, 2015 OMV boosts is clean CCS net income by 31 percent to $400 million despite what analysts described as a 'weak' upstream performance.
Austria's OMV Preparing to Replace CFO
Thursday, October 29, 2015 OMV is preparing to replace long-serving chief financial officer David Davies, newspaper Die Presse reports.
OMV CEO Says Plans Overhaul to Cut Costs
Friday, October 23, 2015 OMV's chief executive, Rainer Seele, is reportedly working on plans to cut costs and expand low-cost production.
Gazprom Signs Memorandum with OMV on Possible Oil Supplies
Friday, October 23, 2015 Gazprom signs a memorandum of understanding with Austrian energy group OMV on the supply of oil.
OMV: Gas Discovered in Pakistan's Latif License
Monday, October 12, 2015 OMV announces that gas has been discovered in the Latif South-1 exploration well, located in Pakistan's Latif exploration license.
Genel Energy to Buy OMV Stake in Bina Bawi Field
Tuesday, September 15, 2015 Genel Energy signs an agreement with OMV to buy its 36% operated stake in the Bina Bawi field, located in the Kurdistan Region of Iraq.