Secure supply for you at fair and predictable prices is one of our most important goals. Long-term purchase contracts provide the basis for sales activities here.
OMV Upstream explores and produces oil and gas in Europe, the Middle East, Africa, Russia and Australasia. Daily production was 486 kboe/d in 2021. While gas production accounted for 59% of production, oil amounted to 41%.
As a wholly owned subsidiary, OMV GAS has access to the natural gas produced by OMV Upstream both in Austria and in other European production centers.
OMV has been active in exploration and production in Austria for more than 60 years and the country continues to play an important part in the company’s international oil and gas production program. On the basis of today’s reserves, OMV assumes that it will be possible to produce oil and gas from Austria for at least another 20 years.
Major volumes of natural gas are acquired from Norway. Here we not only procure gas via our longstanding supply partners, but also through equity production – OMV Upstream has been supplying natural gas from large offshore fields in the North Sea since 2013.
That said, by far the largest volumes of natural gas come from Russia, where OMV has a business relationship going back decades.
Liquefied Natural Gas (LNG)
The procurement of Liquefied Natural Gas (LNG) also opens up interesting possibilities for long-term supply. In December 2007 a contract for LNG regasification capacities was signed with the Rotterdam Gate Terminal, marking an important step in the LNG business. This contract allows us to regasify up to three billion cubic meters of natural gas every year.
All of these activities secure us a balanced procurement portfolio in order to guarantee secure supply for you well into the future.