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OMV closed divestment of Ashtart field in Tunisia

Today, OMV, the international integrated oil and gas company based in Vienna, closed the sale of its 50% stake in the Ashtart oil field, an offshore field in the Gulf of Gabes, Tunisia, as well as OMV’s 50% stake in the operating company SEREPT to PERENCO, an independent Oil and Gas Company. OMV´s average net production from Ashtart was 3,000 boe/d in 2016. The economic effective date of the transaction is January 1, 2016. The parties agreed not to disclose the value of the transaction. The remaining 50% stake in both Ashtart and SEREPT continues to be held by the Tunisian National Oil Company (ETAP), following the Transaction.

The divestment of the Ashtart field fits with OMV’s strategy to optimize its portfolio.

Corresponding to the overall investment climate OMV is committed to further invest into the development of resources in Tunisia and in particular in South Tunisia with the objective to increase production and reserves levels. OMV is working in the development of the Nawara concession within the Jenein Sud exploration area which contains a number of discoveries.
 

Background information:

OMV Aktiengesellschaft
OMV is producing and marketing oil & gas, innovative energy and high-end petrochemical solutions – in a responsible way. With Group sales of EUR 19 bn and a workforce of around 22,500 employees in 2016, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Upstream, OMV has a strong base in Romania and Austria and a balanced international portfolio. 2016 daily production stood at approximately 311,000 boe/d. In Downstream, OMV has an annual refining capacity of 17.8 mn tonnes and more than 2,000 filling stations in ten countries as of June 2017. OMV operates a gas pipeline network in Austria and gas storage facilities in Austria and Germany. In 2016, gas sales volumes amounted to 109 TWh.