OMV Petrom has started the process of selling its oil and gas fields in Kazakhstan, its only overseas assets, according to sales documents consulted by Reuters.
OMV Petrom is the operator of four onshore oil fields in production: Tasbulat, Turkmenoi, Aktas and Komsomolskoye. All are located in the Mangistau region of western Kazakhstan, near the Caspian Sea.
According to Reuters, OMV Petrom, a company controlled by the Austrian group OMV, has hired the investment bank Jefferies to handle the sale of its assets in Kazakhstan. The deadline for submitting offers is March 27, according to sales documents consulted by Reuters, which do not provide any indication to the value of the assets, according to Agerpres.
OMV Petrom’s Kazakh asset portfolio is expected to produce approximately 8,000 barrels of oil equivalent per day in 2020 and contains recoverable reserves of approximately 57 million barrels of oil equivalent.
“The portfolio includes growth opportunities from ongoing and identified projects including, but not limited to, improved oil recovery projects,” the sales documents show.