KOM and TOC hold the production licenses for four onshore fields, respectively Komsomolskoe, Aktas, Tasbulat and Turkmenoi. The cumulated daily production of the four fields was 6.45 kboe/d in 2019, representing nearly 4% of the group production.
“The decision will allow us to focus on the Black Sea region and continue to build a strong position in the area, in line with our growth strategy. We have already made important steps for expanding our offshore presence in the Black Sea, by entering Bulgaria at the end of last year and by winning an international tender in Georgia this year,” stated Christopher Veit, member of the Executive Board of OMV Petrom, in charge with Upstream activity.
Closing of the transaction is subject to certain conditions precedent, including approval by the Kazakh Ministry of Energy and is expected in the first half of 2021.
OMV Petrom entered the Upstream sector in Kazakhstan in 1998. The business has been stable, but no further in-country expansion has been realized in the last few years and OMV Petrom has decided to shift the focus of its international Upstream business to the Black Sea.
All fields are located in the Mangistau region of West Kazakhstan near the Caspian Sea. The four onshore fields cover a total area of 86.52 km², including approximately 75 wells, production facilities and 200 km of pipelines.
OMV Petrom reported sales of RON15.1 billion for the first nine months of 2002, down 17% on the year, while the net profit attributable to shareholders dropped 70%, to RON826 million.
OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of 55.4 million boe in 2019. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through 798 filling stations, at the end of September 2020, under two brands – OMV and Petrom.
OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.011% stake in OMV Petrom. The Romanian State, through the Ministry of Economy, Energy and Business Environment, holds 20.639% of OMV Petrom shares, investment fund Fondul Proprietatea holds 6.997%, and 21.353% is the free float on the Bucharest Stock Exchange and the London Stock Exchange.