OMV to divest exploration and production assets in Asia-Pacific region
(WO) – OMV has decided to explore the possibilities of selling the exploration and production (E&P) assets in the Asia-Pacific region. The oil and gas producer is considering initiating the related sales process for the potential divestment of its 50% stake in the issued share capital of SapuraOMV Upstream Sdn. Bhd. in Malaysia.
OMV may also divest 100% of the shares in OMV New Zealand Limited. A potential divestment aims at optimizing the E&P portfolio in line with the OMV Strategy 2030.
As part of the sales process, OMV will invite potentially interested parties to submit expressions of interest and binding offers. The sales process is expected to take place over the next few months. A potential sale is still subject to the approval of the Supervisory Board of OMV and competent governmental authorities.