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    OMV Petrom to Exit Kazakhstan: Press

Summary

The assets lined up for sale are expected to produce 8,000 barrels of oil equivalent/day in 2020.

by: Joseph Murphy

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Natural Gas & LNG News, Asia/Oceania, Premium, Corporate, Mergers & Acquisitions, Financials, News By Country, Kazakhstan

OMV Petrom to Exit Kazakhstan: Press

OMV Petrom, the Romanian subsidiary of Austria’s OMV, has launched a sales process for its upstream assets in Kazakhstan, according to a prospectus seen by Reuters.

The assets are the Komsomolskoye oil and gas field, in Kazakhstan’s southwest Mangistau region, and smaller fields within the Tashbulat area. OMV Petrom has hired US investment bank Jefferies to manage the sale, Reuters reported on January 23.

OMV Petrom is set to produce around 8,000 barrels of oil equivalent/day of oil and gas in 2020, the prospectus stated, up from 6,800 boepd in 2018.