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6 Pages

OMV acquires a 24.99% stake in South Russkoye from Uniper for US$1.85 billion


OMV acquires a 24.99% stake in South Russkoye from Uniper for US$1.85 billion

Report summary

OMV is adding over 100,000 boe/d of net production and cementing Russia as a core strategic region with the acquisition of a 25% stake in South Russkoye from Uniper. The company will be joining Gazprom and Wintershall in the project, building upon the commercial relationships of OMV's CEO Rainer Seele, who used to head up Wintershall. The South Russkoye field lies in the Yamal-Nenets region of West Siberia, which is Russia's core gas producing area. The field is onstream, and production has reached its plateau of 2,434 mmcfd (25 bcm annually). South Russkoye feeds gas into the Nord Stream pipeline and is an important supplier to Europe. Though development of additional, more complicated horizons is expected, South Russkoye should prove to be a cash cow for the company. This cash can be funnelled towards development of Urengoiskoye Achimov IV/V, which OMV is accessing through a previously-announced swap with Gazprom.

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Description

The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
    • Upsides
    • Risks
  • Strategic rationale
    • OMV
    • Uniper
  • Oil & gas pricing and assumptions

In this report there are 7 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Transaction details
  • Upstream assets
    • Upstream assets: Table 1
  • Deal analysis
    • Deal analysis: Table 1
    • Deal analysis: Table 2
    • Deal analysis: Table 3
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
    • Oil & gas pricing and assumptions: Table 2
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