EANS-Adhoc: OMV and Gazprom sign ?Amendment Agreement? to the ?Basic Sale Agreement? in relation to the potential acquisition of a 24.98% interest in Achimov 4A/5A phase development by OMV
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07.06.2019
Vienna - Today, OMV and Gazprom have signed an "Amendment Agreement" to the
"Basic Sale Agreement" dated October 3, 2018. The "Amendment Agreement"
foresees, in particular, a purchase price of EUR 905 mn for the potential
acquisition of a 24.98% interest in the Achimov 4A/5A phase development in the
Urengoy gas and condensate field by OMV.
The amended "Basic Sale Agreement" also contains the key principles of, and the
way forward with respect to, the transaction. The execution and implementation
of the transaction itself is, amongst others, subject to the approval of the
Supervisory Board of OMV and an agreement with Gazprom on the final transaction
documents as well as regulatory approvals at a later stage. The signing of the
final transaction documents is expected to take place until the end of the year
2019.
The acquisition would grant OMV access to the Achimov 4A/5A reservoir in the
Urengoy field located in Western Siberia, Russia. The Urengoy field is Russia's
largest gas and condensate field and one of the biggest gas fields in the world.
It is located in Western Siberia and extends over 12,000 km2. The acquisition
would add approximately 600 mn barrels of oil equivalent ("boe") to OMV's
reserves representing OMV's share of production in Achimov 4A/5A until the end
of the year 2044. The operator expects production to start up at the end of 2020
and to reach a plateau of more than 80,000 boe/day (OMV's share of production)
in 2026. OMV's share of total investments is expected to amount to approximately
EUR 950 mn until the end of the year 2044, including approximately EUR 75 mn
compensation for past cost incurred in the years 2017 and 2018.
Further inquiry note:
OMV Aktiengesellschaft
Andreas Rinofner, Public Relations
Tel.: +43 (1) 40 440-21427; e-mail: public.relations@omv.com
Florian Greger, Investor Relations
Tel.: +43 (1) 40 440-21600; e-mail: investor.relations@omv.com
end of announcement euro adhoc
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issuer: OMV Aktiengesellschaft
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A-1020 Wien
phone: +43 1 40440/21600
FAX: +43 1 40440/621600
mail: investor.relations@omv.com
WWW: http://www.omv.com
ISIN: AT0000743059
indexes: ATX
stockmarkets: Wien
language: English
Original content of: OMV Aktiengesellschaft, transmitted by news aktuell