OMV Intends to Acquire 50 Percent Stake in Sapura Upstream



OMV Intends to Acquire 50 Percent Stake in Sapura Upstream
OMV announces Wednesday that it intends to acquire a 50% interest in Sapura Energy Berhad's wholly owned subsidiary, Sapura Upstream Sdn Bhd.

Vienna-based oil and gas company OMV announced Wednesday that it intends to acquire a 50 percent interest in Sapura Energy Berhad’s wholly owned subsidiary, Sapura Upstream Sdn Bhd.

“Sapura Upstream is a major independent oil and gas company based in Malaysia with a strong growth portfolio,” OMV said in a company statement on its website.

Earlier this month, OMV announced that it had closed the sale of OMV Samsun Elektrik Üretim Sanayi ve Ticaret A.Ş. to Yapisan Elektrik Üretim A.Ş., a subsidiary of Bilgin Enerji, based in Ankara. The transaction was signed on May 30, 2018.

Back in June this year, OMV closed the sale of its upstream companies active in Pakistan to Dragon Prime Hong Kong Limited, a wholly-owned subsidiary of United Energy Group Limited.

In March, OMV agreed to acquire Shell’s upstream business in New Zealand. The transaction is likely to be completed in 2018, OMV said in March this year.

OMV’s 2017 daily production stood at approximately 348,000 barrels of oil equivalent per day, according to its website, which states that the business had a workforce of around 20,700 people last year.



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