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OMV: Investments in Austria to Increase to € 450m

Published: May 7, 2013; 12:29 · (Vindobona)

With extra investments OMV intends to improve the exploration of domestic production fields. However, there are currently losses in the gas business.

OMV: Investments in Austria to Increase to € 450m / Picture: © Flickr / World Economic Forum

The listed Austrian oil company OMV is going to invest € 450m in the upstream business (“exploration & production”) in 2013/14. CEO Gerhard Roiss explained that already around € 100 were invested annually. The increased investments should provide an improved exploration of Austrian fields of production. According to Roiss, the investment budget for Romania was € 1bn or…

This article includes a total of 313 words.

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