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Investegate |OMV Petrom S.A. Announcements | OMV Petrom S.A.: OMV Petrom divests assets in Kazakhstan


 
 
 
OMV Petrom, the largest energy company in Southeastern Europe, signed the transaction for the sale of 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 cumulated daily production of the four fields was 6.45 kboe/d in 2019, representing ~4% of the group production.
Closing of the transaction is subject to certain conditions precedent including approval by the Kazakh Ministry of Energy and is expected in the first half of 2021.
OMV Petrom entered the Upstream sector in Kazakhstan in 1998. The business has been stable, but no further in-country expansion has been realized in the last few years and OMV Petrom has decided to shift the focus of its international Upstream business to the Black Sea. ....

Black Sea , Oceans General , United States , Caspian Sea , Kazakhstan General , City Of , United Kingdom , Christopher Veit , South Eastern Europe , Fondul Proprietatea , London Stock Exchange , Tasbulat Oil Corporation , Ministry Of Economy , Bucharest Stock Exchange , Kazakh Ministry Of Energy , Kazakh Ministry , West Kazakhstan , Executive Board , Romanian State , Business Environment , London Stock , கருப்பு கடல் , பெருங்கடல்கள் ஜநரல் , ஒன்றுபட்டது மாநிலங்களில் , காஸ்பியன் கடல் , காஸக்ஸ்டாந் ஜநரல் ,

OMV Petrom divests assets in Kazakhstan, 29 Dec 2020 01:00


 
 
 
OMV Petrom, the largest energy company in Southeastern Europe, signed the transaction for the sale of 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 cumulated daily production of the four fields was 6.45 kboe/d in 2019, representing ~4% of the group production.
Closing of the transaction is subject to certain conditions precedent including approval by the Kazakh Ministry of Energy and is expected in the first half of 2021.
OMV Petrom entered the Upstream sector in Kazakhstan in 1998. The business has been stable, but no further in-country expansion has been realized in the last few years and OMV Petrom has decided to shift the focus of its international Upstream business to the Black Sea. ....

Black Sea , Oceans General , United States , Caspian Sea , Kazakhstan General , City Of , United Kingdom , Christopher Veit , South Eastern Europe , Fondul Proprietatea , London Stock Exchange , Tasbulat Oil Corporation , Ministry Of Economy , Bucharest Stock Exchange , Kazakh Ministry Of Energy , Kazakh Ministry , West Kazakhstan , Executive Board , Romanian State , Business Environment , London Stock , கருப்பு கடல் , பெருங்கடல்கள் ஜநரல் , ஒன்றுபட்டது மாநிலங்களில் , காஸ்பியன் கடல் , காஸக்ஸ்டாந் ஜநரல் ,