OMV INTENDS TO ACQUIRE 50% INTERESTS IN SAPURA ENERGY

September 17, 2018

OMV has entered into a Heads of Agreement with Sapura Energy Berhad to form a strategic partnership. The parties have agreed to continue negotiations on an exclusive basis. OMV intends to acquire a 50% interest in Sapura Energy’s wholly-owned subsidiary, Sapura Upstream Sdn Bhd (Sapura Upstream).
Sapura Upstream is a major independent oil and gas company based in Malaysia with a strong growth portfolio. The potential cooperation would allow OMV to enter into a partnership with a highly esteemed regional company.
“The intended partnership with Sapura is a major step to develop OMV’s activities in South East Asia. The oil and gas demand in this region is expected to increase strongly until 2030 and OMV is taking the opportunity to further expand the business and build up the new core region”, said Rainer Seele, CEO and Chairman of the Executive Board.
OMV headquartered in Vienna, Austria, has a strong base in Romania and Austria and a balanced international portfolio, with the North Sea, the Middle East & Africa and Russia as further core regions. 2017 daily production stood at approximately 348,000 barrels of oil equivalent per day. (Source: OMV)