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OMV looks to buy Gazprom's Siberian assets

Oct 04, 2018
1 min read
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Austria's OMV and Russia's Gazprom has signed a basic sale agreement regarding the potential acquisition by OMV of a 24.98 per cent interest in Gazprom's Achimov IV and V phase development in Siberia, Russia.

The deal will see a potential acquisition of the Achimov IV and V phase development in the Urengoy gas and condensate field by OMV for a purchase price to be negotiated in good faith, the Austrian firm said in a statement.

The basic sale agreement replaces the basic agreement concluded between OMV and Gazprom on December 14, 2016 which provided for a potential asset swap of the aforementioned interest against a 38.5 per cent participation of Gazprom in OMV’s Norwegian subsidiary. This is no longer happening.

The signing of the final transaction documents is expected in the beginning of 2019.

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