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OMV and Gazprom to jointly produce gas in Siberia

 

According to Sputnik, Rainer Seele, the OMV CEO, said that Austrian oil and gas company OMV plans to jointly produce gas in Siberia with Russian energy giant Gazprom, while at the same time is pleased to enter the Russian market as an investor.
“Together with Gazprom we intend to start joint gas production in Siberia, and we intend to jointly start building the necessary infrastructure for this purpose,” Seele mentioned. He added that OMV Group seeks to prolong the existing contract with Gazprom and agree on additional supplies of gas.
In March, the OMV announced its intention to buy German Uniper’s 24.99 percent share in the Russian Yuzhno-Russkoye oil and gas field worth USD 1.85 billion. The total gas reserves of the field are estimated at 1 trillion cubic meters. A joint venture between Gazprom (40 percent), German Wintershall Holding GmbH (35 percent) and Uniper (25 percent) are developing the field. The purchase deal is expected to be carried out by the end of 2017.

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