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Portfolio Developments

In 2021, the COVID-19 pandemic continued to affect the global economy and energy demand. Although the pandemic continued to pose operational challenges in all production assets, OMV made significant progress with implementing its E&P strategy. It aims to increase the share of natural gas over that of crude oil and reduce carbon intensity across the portfolio. SapuraOMV completed the sale of all mature oil assets in Peninsular Malaysia in August, and in December, OMV divested its 25% share in the Wisting oil discovery in Norway. Further portfolio optimization milestones were the divestment of all E&P assets in Kazakhstan in May and of 40 marginal fields in Romania in December. In New Zealand, OMV continues to work toward completing the sale of its 69% stake in the Maari oil field.

Central and Eastern Europe

OMV Petrom continued its portfolio optimization efforts in 2021 with the sale of 40 onshore oil and gas fields in Southeastern Romania. OMV Petrom also sold all of its holdings in E&P assets in Kazakhstan.

Negotiations for a production-sharing contract for Block II off the shore of the Republic of Georgia were successfully concluded. A seismic campaign is in preparation there for 2022.

In Romania, we drilled 36 new wells and sidetracks (2020: 63), and 695 workover jobs were performed. The first total shutdown of the Petromar asset was successfully and safely finalized in October. In September and October, modernization and upgrades as well as necessary maintenance work were performed at the offshore platforms and the Midia terminal.

In Austria, phase 1 of the country’s largest ground-mounted photovoltaic plant commenced operations in January. It generated 12.1 GWh of carbon-neutral electricity for in-house use from January to December. The second and final construction phase started in Q4/21. This phase will raise generation capacity to a total of 15.32MWp and is expected to go online in Q3/22. Once fully operational, the plant will generate around 14.25 GWh of electricity. A three-week turnaround at the Aderklaa sour gas plant was finalized in May. Thanks to a new inspection method, the turnaround interval was extended to six years.

Phase 1 of the Smart Oil Recovery (SOR) drilling workover campaign was finalized. Eight new wells started production at the end of January 2022.

Middle East and Africa

In 2021, the Middle East and Africa region delivered strong results. Operations were safe and remained undisrupted, and all key projects continued as planned, despite the impact of COVID-19 and the tense geopolitical situations in Libya, Tunisia, and Yemen.

In Libya, production remained stable for almost the entire year. In mid-January 2022, we were able to lift the force majeure that had to be declared on crude oil exports from two Libyan ports following a political dispute in December 2021.

In the United Arab Emirates, drilling continued at the SARB and Umm Lulu fields. This allowed the production ramp-up to continue despite OPEC quota restrictions.

While Yemen’s security situation continuously poses significant challenges, OMV was able to complete the workover campaign in Block S2 and commission two power generation units for the central processing facility in Q4/21.

In Tunisia, the production rate at the Nawara natural gas field was stabilized in 2021, owing to the building of operational capabilities and the implementation of digital technologies.

North Sea

In line with the strategy of reducing the product portfolio’s carbon intensity, OMV sold its entire 25% stake in the Wisting oil discovery. The economic effective date of the transaction is January 1, 2021.

The Hywind Tampen project is on track to deliver initial power to Gullfaks in 2022. Upon completion, it will be the world’s first wind farm to power offshore platforms and reduce CO2 emissions by 200,000 per year.

The concept selection for the Iris/Hades development was confirmed in November 2021.

A number of developments were completed in 2021 that will extend plateau production for the Gudrun and the Edvard Grieg fields. These include two tie-ins to the Gudrun field, a new extended well test at the Rolvsnes field, a tie-back to the Solveig field, and three new infill wells to the Edvard Grieg platform that were put into production.


In October 2021, the Yuzhno-Russkoye field reached the important milestone of full Turonian reservoir development with the commissioning of the last of a total of 88 wells. Together with the 12 wells in the first start-up complex commissioned in 2019, 100 wells are now in operation and produce the hard-to-recover natural gas of the field’s Turonian reservoir.

A further step to maintain the production level of the field was the successful launch of a new booster compressor station.


In line with its strategy, SapuraOMV sold all of its interests in various mature oil-producing assets located offshore Peninsular Malaysia. The effective date of the transaction is January 1, 2021.

The Jerun natural gas project is progressing according to plan. Detailed engineering is well on track, and the first deliveries of structural steel have arrived at the fabrication yard.

In New Zealand, OMV continued the redevelopment and optimization of the Māui and Pohokura natural gas assets.

The Pohokura onshore well intervention was successfully completed. The Māui natural gas field re-development in New Zealand is on track, with the Māui A Crestal Infill completed and the Māui B IRF Phase 3 progressing well.

OMV’s divestment of its 69% share in the Maari oil field is expected to close in 2022.

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