OMV: Total Production Declined by 14%

EnergyOil & Gas ♦ Published: July 22, 2011; 12:00 ♦ (Vindobona)

In the second quarter, the Austrian oil and gas company registered a significant drop in production. Sales volumes in the gas business increased by 43%.

OMV: Total Production Declined by 14% / Picture: © Wikimedia Commons / DanielZanetti [CC BY 3.0 (]

Due to the unrest in the Arabic countries OMV’s total production continued to decline in the second quarter of the year. Compared to the first three months, the company registered a 10% drop from 304,000 to 275,000 boe/d (barrel oil equivalents per day). Against the second quarter of 2010, production declined by almost 14%. This was announced by the company on Friday in its trading…