We are excited to announce that as of February 1, Wood Mackenzie is a portfolio company of Veritas Capital, a leading investor at the intersection of technology and government. Our focus remains on providing you with the best intelligence, analytics, data and tools to ensure you are making the best data-driven business decisions with confidence.  

Read more in our news release here. 

Deal Insight

Gazprom and OMV swap assets in Russia and Norway

Get this report


You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

22 December 2016

Gazprom and OMV swap assets in Russia and Norway

Report summary

OMV and Gazprom have agreed to an asset swap which sees OMV gain a 25% share in two blocks in the Urengoiskoye gas and condensate field in West Siberia, and Gazprom gain a 39% share in OMV's Norwegian upstream business. The asset swap is designed to be value neutral. We value the interest in Urengoiskoye obtained by OMV higher than the stake in OMV Norge obtained by Gazprom. But there is upside to our OMV Norge valuation through exploration and appraisal around the Wisting discovery in the Barents sea. OMV is reducing its exposure to high-cost production in the North Sea, and recently sold its UK subsidiary. The deal gives Gazprom international support to develop the challenging Achimov reservoirs and diversifies its upstream portfolio through the addition of 80 mmboe of net commercial reserves with exploration upside.

Table of contents

Tables and charts

This report includes 6 images and tables including:

  • Assets acquired by Gazprom
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Upstream assets: Table 2

What's included

This report contains:

  • Document

    Gazprom and OMV swap assets in Russia and Norway

    PDF 297.95 KB