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OMV Petrom closes the divestment of the production assets in Kazakhstan

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* The transaction is part of OMV Petrom’s strategy to focus on the Black Sea region

 

OMV Petrom, the largest energy company in Southeastern Europe, announces the closing of the sale transaction for its 100% shareholding in Kom-Munai LLP (KOM) and Tasbulat Oil Corporation LLP (TOC) in Kazakhstan to MAGNETIC OIL LIMITED. KOM and TOC hold the production licenses for four onshore fields, respectively Komsomolskoe, Aktas, Tasbulat and Turkmenoi.

 

The transaction is part of OMV Petrom’s strategy to focus its regional expansion towards the Black Sea area in search of the most profitable barrels. OMV Petrom announced the signing of the transaction on December 29, 2020 and managed to close it in record time, a notable achievement particularly in the difficult pandemic context.

 

The impact from the transaction on OMV Petrom’s operational indicators is limited, as Kazakhstan operations represented only a small part of OMV Petrom’s overall portfolio. In 2020, the cumulated daily production of the four fields was 6.76 kboe/d, representing 4.7% of the Group production, while the 1P reserves of 21.8 mn boe accounted for 4.6% of Group reserves.

 

OMV Petrom entered the Upstream sector in Kazakhstan in 1998. All fields are located in the Mangistau region of West Kazakhstan near the Caspian Sea. The four onshore fields cover a total area of 86.52 km², including approximately 75 wells, production facilities and 200 km of pipelines.

 

About OMV Petrom

OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of 53 million boe in 2020. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through 790 filling stations, at the end of March 2021, under two brands – OMV and Petrom.

 

OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51% stake in OMV Petrom. The Romanian State, through the Ministry of Energy, holds 20.6% of OMV Petrom shares, Fondul Proprietatea holds 7%, and 21.4% is the free float on the Bucharest Stock Exchange and the London Stock Exchange.

 

OMV Petrom is the largest contributor to the state budget, with contributions of approximately 32 billion euro in taxes and dividends paid between 2005 and 2020.

Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2020, the company has allocated approximately 72 million euro to develop communities in Romania, focusing on environmental protection, education, health and local development.

 

On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change.

 

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