21st Austria weekly - OMV (13/01/2020)

OMV: SapuraOMV Upstream announced first production following the start-up at the end of December from its Larak gas field under the SK408 Production Sharing Contract (PSC), which was delivered within budget. The SK408 gas fields are part of discoveries made by SapuraOMV Upstream in a drilling campaign in 2014. The fields are tied back into an existing processing facility and gas is transported through existing pipelines for onward gas processing at PETRONAS LNG complex in Bintulu. “This achievement will strengthen our presence in the existing market, propelling us to become one of the most significant gas producer in the country and in the region”, said SapuraOMV Chairman Tan Sri Dato’ Seri Shahril Shamsuddin. “This will further cement our position as a trusted and reliable oil and gas company.” „This production start is a positive signal and demonstrates OMV’s commitment to the Asia-Pacific hub. It shows once more the strengthening of the gas focus in our production portfolio”, said Johann Pleininger, Executive Board Member responsible for Upstream and Deputy Chairman of OMV. SapuraOMV Upstream, headquartered in Kuala Lumpur, is a strategic partnership between Sapura Energy Berhad and OMV Exploration & Production GmbH, a subsidiary of Austria’s OMV Aktiengesellschaft.
OMV: weekly performance: -4.79%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (13/01/2020)

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