OMV to Seek Shale Gas in Austria

OMV AG says that that a recent geological study has shown the potential for large shale gas reserves in the Province of Lower Austria.

Austria’s Kurier newspaper reports that the reserves could cover domestic requirements for a period of 30 years.

OMV is planning test drillings in the region around Poysdorf, District Mistelbach, in the North of Austria, following public consultations.

Domestic gas production presently satisfied only 15 percent of Austria’s requirements.

In November 2010, OMV’s Anton Baumgartner confirmed that the Austrian energy giant had been examining opportunities for domestic shale gas for several years.

“After looking into our shale potential for more than two years we are convinced that we have a substantial play that can be developed,” Baumgartner. “The next step is to move forward with a pilot project.”

Baumgartner felt that while he did not see any concerns in moving ahead with shale gas development,  “stakeholder development will be an important aspect.”

“We can benefit from the North American experience and it will allow us to go faster in the development of the Austrian shales”, he added.

Related Reading on OMV and Austrian Shales: Evolution Rather Than Revolution