In the first quarter a year earlier, Petrom posted gas sale volumes of 17.32 TWh, the report noted. Compared with the last three months of 2012, sale volumes increased 13.5% in January through March.
Petrom’s hydrocarbon output slid to 183,000 barrels oil equivalent (boe) a day in the first quarter, from 184,000 boe a day in the same period of 2012. The company’s production was unchanged from a quarter earlier.
“In Romania and Austria, production remains stabilized at levels close to the upper end of our 200-210 kboe/d target range,” OMV said.
Groupwide, OMV reported a slight increase in hydrocarbon production quarter-on-quarter to 302,000 boe a day, fueled by higher output at its fields in Yemen, Libya and New Zeeland. Compared with the first three months of 2012, hydrocarbon production increased 1% in the first quarter.
The good results “compensated the production decrease resulting from the completion of the UK North Sea asset sale in Q4/12 and suspension of production at Schiehallion (UK) from January onwards,” OMV said.
It said exploration expenses were at a similar level as the fourth quarter of 2012, mainly due to ongoing 3D seismic activities in Romania and the write-off of an exploration well in Norway.
The group’s gas sales volumes rose 5.5% on the quarter to 135.78 TWh in January through March, and were up 14.4% compared with the same period of 2012.
“Gas sales volumes increased by 14% compared to the first quarter of 2012, mainly due to trading activities,” OMV said. It said trading volumes accounted for approximately 65% of the total reported gas sales volumes.
OMV Petrom is 51.01%-owned by Austrian group OMV. The Economy Ministry holds a 20.63% stake in the company, while investment fund Fondul Proprietatea (FP.RO) owns 20.11%.
Thursday, Petrom’s shares closed down 0.44% at RON0.448 in Bucharest.