OMV considering change of control at Yuzhno-Russkoye field

Business & Economy December 20, 2023, 19:56

"No further negative effects on the results are factually to be expected," the company said

MOSCOW, December 20. /TASS/. OMV is considering the decree of Russian President Vladimir Putin on the change of control over the Yuzhno-Russkoye oil and gas condensate field to new Russian legal entities without foreign participation and may take steps to protect its right, the Austrian company said.

"OMV is currently reviewing the presidential decree and may take further steps to preserve its rights," the company noted.

At the same time, the company reminded about its decision not to invest in Russia anymore and adjust the value of its 24.99% stake in the Yuzhno-Russkoye field, "including the possibility of sale and exit."

"No further negative effects on the results are factually to be expected," OMV said.

The press service of Germany’s Wintershall Dea told TASS earlier that the company is also reviewing decrees of the Russian President on the change of control at Yuzhno-Russkoye and Urengoyskoe oil and gas condensate fields.

The Russian President ordered the government earlier to create new legal entities to manage the two oil and gas condensate fields as part of special economic measures.

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