OMV half-year results 2019 highlights: Amendment to the “Basic Sale Agreement” for Achimov 4A/5A
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OMV half-year results 2019 highlights: Amendment to the “Basic Sale Agreement” for Achimov 4A/5A


OMV presents the results of the first half year of 2019. Let’s start with the latest highlights: The highlight for me in the first half of this year, was June the 7th in Saint Petersburg. I was very privileged to attend the Saint Petersburg
International Economic Forum, and there in front of representatives of the Russian
and Austrian Government, OMV and Gazprom signed an amendment to
the “Basic Sale Agreement” for Achimov 4 & 5. This foresees a price of 905 million Euros in exchange for 24.98 percent in the
Achimov 4 & 5 development project. Achimov is part of the Urengoy gas field. This is the biggest gas incondensate field in Russia, one of the largest in the world, by comparising it’s 12,000 square kilometers,
which is equivalent of Upper Austria. It’s a very important and exiting milestone
in delivering OMV’s “Strategy for 2025”. It will add 600 million barrels of oil equivalent to our
reserves, and significantly enhance our production. It’s also a stepping stone
in growing the Russian Hub in Russia, to make it one of five core regions within OMV. The partnership with Gazprom
is very strong and very close. It’s been going for over 50 years now and what’s
particularly interesting is, it’s so multifaceted. So in addition to this deal in the first half of 2019,
we further strengthened academic collaboration, we expanded a scientific technical collaboration
with Gazprom. We also agreed cultural projects for 2019 and 2020 and in addition there was a memorandum
of understanding on Liquefied Natural Gas. All of this takes a great deal of work
and the deal for Achimov in particular was led by our Merger & Acquisitions
department and our CEO Mr. Rainer Seele. Team spirit, pioneering spirit – these are things which
have been very visible throughout the process. We anticipate and look forward to closing this deal
for which is more work for Gazprom and OMV to do together by year end,
but we are very much on the right track.

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