Company Report
OMV oil and gas exploration summary
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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 the following images and tables:
- 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, 2014 to 2023)
- 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
- 5 more item(s)...
What's included
This report contains:
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