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OMV oil and gas exploration summary

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Report summary

In late 2015, OMV announced a new strategic direction. It will grow production by gaining access to low-cost discovered resource opportunities. This was a marked departure from the previous strategy of building a material production hub in the North Sea and diversifying away from high above-ground risk regions. OMV will also cut exploration spend over the next two years. Exploration spend in 2016 was US$330 million and will further reduce in 2017.

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    OMV oil and gas exploration summary

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Table of contents

    • Basins drilled and all conventional and organic unconventional discoveries 2007-2016
  • Investment and costs
    • Well data
  • Reserves and resources
  • Production
    • Romanian Black Sea volumes balance declining onshore exploration
    • Large volumes in the Middle East and North Africa
    • Rising spend in shelf and deepwater

Tables and charts

This report includes 23 images and tables including:


  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
  • Executive summary: Image 1
  • Net active exploration acreage by water depth
  • Net active exploration acreage by country
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Full cycle value creation by year
  • Exploration returns by year
  • Value creation by reserve category
  • Value creation by water depth


  • Top 40 discoveries (2006 to 2015)
  • Full Cycle Economics
  • Ten year performance summary
  • Gross conventional exploration & appraisal wells by basin and sector
  • Strategy: Table 1

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