OMV €1.749 billion acquisition of Uniper stake in Yuzhno-Russkoye gas field

Overview:

• Austria-based OMV Exploration & Production has completed the €1.49 billion acquisition of a 25% stake in the Yuzhno-Russkoye gas field from Dusseldorff-based Uniper Exploration & Production.
• Uniper had held a stake in the field through its shareholdings in Severneftegazprom and Gazprom YRGM Development and OMV acquired these to complete the transaction.
• Gazprom holds a 50% stake in the joint venture that runs the field, with BASF subsidiary Wintershall controlling the remaining 25%.
• The deal was partly funded through the sale of OMV Petrol Ofisi, OMV's Turkish petrol station business.
• Yuzhno-Russkoye is an oil and gas field located in the Krasnoselkupsky District of the Yamal-Nenets Autonomous Okrug in the Tyumen Oblast, which lies in Western Siberia.

Jon Moore - Journalist