- OMV successfully completes drilling of a deepwater exploration well in the Norwegian Sea with an excellent safety performance
  - Preliminary estimated total recoverable volumes up to 140 million barrels of oil equivalent (mn boe)

OMV (Norge) AS, operator of the PL 1194, completes the drilling operation in the Norwegian Sea targeting the “Haydn/Monn” exploration prospects. The well encountered gas with estimated recoverable volumes between 30 and 140 mn boe in total.

“By focusing on gas as a transition fuel, OMV invests in affordable energy solutions and contributes to a more sustainable energy mix. We aim to increase the share of gas in our production portfolio to 60 percent by 2030. A commercial discovery will further advance our diversification, while high grading our portfolio in Norway. Ultimately, today’s news further solidifies our position as a reliable gas supplier in Europe,” says Berislav Gašo, OMV Executive Vice President Energy.

The deepwater well in the Norwegian Sea is located 300 km west of the Norwegian mainland at a water depth of 1,064 meters. The gas discovery is approximately 65 kilometers from the existing infrastructure of the Polarled pipeline and the Aasta Hansteen field.

The license partners in PL1194 will further evaluate the discovery for a potential gas field development to the nearby infrastructure. Leveraging existing infrastructure, a subsea development to the Aasta Hansteen host platform will result in faster planning and execution with lower development costs, and a reduced carbon footprint.

“This discovery could unlock significant potential in the area and extend the life of the Aasta Hansteen gas hub, in which OMV already has a stake,” added Berislav Gašo.

The “Haydn/Monn” deepwater well was drilled with an excellent health, safety, security and environment performance by the Transocean Norge rig, a converted and certified low emission drilling unit. OMV (Norge) AS is the operator of PL 1194 with a 40 percent working interest. The partners are Vår Energi ASA (30 percent) and Inpex Idemitsu Norge AS (30 percent).

About OMV Aktiengesellschaft

At OMV, we are re-inventing essentials for sustainable living. OMV is transitioning to become an integrated sustainable chemicals, fuels and energy company with a focus on circular economy solutions. By gradually switching over to low-carbon businesses, OMV is striving to achieve net zero by latest 2050. The company achieved revenues of EUR 39 billion in 2023 with a diverse and talented workforce of around 20,600 employees worldwide. OMV shares are traded on the Vienna Stock Exchange (OMV) and as American Depository Receipts (OMVKY) in the U.S.