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OMV oil and gas exploration summary



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Report summary

In recent years OMV s strategy has been to build a material production hub in the North Sea and diversify away from high above ground risk regions. In late 2015 OMV announced a new strategic direction. It will maintain production by gaining access to low cost discovered resource opportunities. OMV will also cut exploration spend by more than 50% over the next two years. Exploration spend in 2016 will be US$479 million reducing to US$232 million in 2017.

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    OMV oil and gas exploration summary

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Table of contents

  • Executive summary
  • Strategy
  • Investment and costs
  • Exploration
  • Reserves and resources
  • Production
  • Valuation

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
  • SWOT Grid
  • Gross conventional exploration & appraisal wells by basin and sector

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