Deal insight

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

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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.

What's included

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

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Table of contents

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

Tables and charts

This report includes 7 images and tables including:

Tables

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

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