Company Report
OMV oil and gas exploration summary
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Report summary
OMV is an international integrated oil and gas company. It has largely used M&A to build up its international upstream operations. In 2022, the company announced its OMV Strategy 2030, which marked a significant change from its previous Strategy 2025. At the core of OMV’s strategy, is a shift from a linear economy to a circular economy to make it a more sustainable business. While investment in its traditional exploration and production business will continue until 2026, investment will decrease significantly thereafter. As part of its aim to be a net-zero emissions (Scope 1, 2 & 3) company by 2050, OMV will gradually decrease its oil and gas production by 20% (from 2022 levels) by 2030. Before eventually ceasing oil and gas production for energy use by 2050. Exploration and production will be limited to OMVs four core areas: Central Eastern Europe, Middle East and Africa, North Sea and Asia-Pacific.
Table of contents
- Exploration strategy
- Exploration results
- Current portfolio and exploration outlook
- Production and potential cost of production
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Value creation
- Romanian Black Sea progresses thanks to fiscal reforms
Tables and charts
This report includes 17 images and tables including:
- OMV's current acreage - (top 5 countries in '000 km2)
- Net exploration and appraisal wells by country
- Exploration & appraisal spend and reinvestment
- Exploration success rates
- Largest 10 conventional discoveries (net, 2013 to 2022)
- Volumes discovered by year
- Volumes discovered by water depth
- Volumes discovered by country
- Volumes discovered by basin
- Production from new field discoveries and as a proportion of all future production
- Finding and development costs for added resources
- Full-cycle economics
- Top 10 conventional discoveries by development value (2013-2022)
- Conventional value and spend by country
- Exploration returns by water depth
- Conventional value creation
- Exploration returns by year
What's included
This report contains:
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