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Austrian OMV to open office in St. Petersburg in fall

June 16, 19:23 UTC+3 MOSCOW

Gazprom and OMV reached a base binding asset swap agreement in December 2016

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MOSCOW, June 16. /TASS/. Austrian oil and gas company OMV plans to open an office in St. Petersburg in early fall 2017 within the framework of broadening cooperation with Gazprom, press service of the company told TASS on Friday.

"OMV started already at the beginning of this year to build up Russia’s Upstream business, headquartered in St. Petersburg. Office opening is planned for early autumn," the company said. "The OMV office in Moscow will remain," the press service added.

Gazprom and OMV reached a base binding asset swap agreement in December 2016. Gazprom will receive a 38.5% stake in OMV’s Norwegian subsidiary OMV (Norge) AS. The Austrian company in its turn will get 24.98% in Achimov Blocks 4 and 5 of the Urengoi Field in Siberia.

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