OMV Petrom completes divestment of Kazakhstan production assets

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 29 December 2020. 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's production, while the 1P reserves of 21.8 million boe accounted for 4.6% of Group reserves.

All four 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.

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Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/17052021/omv-petrom-completes-divestment-of-kazakhstan-production-assets/