OMV Production Up with Help from Libya

Monday, August 21, 2017

 OMV’s overall oil and gas production increased in H1 2017, helped in part by its assets in Libya. Company CEO, Rainer Seele, commenting on the results said, “OMV’s production reached an impressive level of 337,000 boepd in H1 2017, mainly due to Libya and Norway.”

OMV holds a number of assets in Libya. In September 2016, the oil terminals in the Sirte basin re-opened and production from OMV’s Nafoora Augila field and license C103 resumed. With the blockages of the Sharara pipeline lifted in December, OMV was able to resume production at its Murzuq basin fields.

According to the company’s website its production is expected to average 10,000 bpd in 2017. With additional shares previously acquired from partners, OMV expects to increase its mid-term production in Libya to 50,000 bpd.

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