OMV exiting Maari oil field

Tue, 19 Nov 2019

OMV has agreed to sell its majority stake in the Maari oil field as part of its strategy to shift its production away from heavier-emitting resources.The firm, which also manages the Maui and Pohokura gas fields, will sell its 69 percent interest in the offshore field to Singapore-based Jadestone Energy for US$50 million. Other partners in the venture are ASX-listed Horizon Oil and Cue Energy Resources, a subsidiary of New Zealand Oil & Gas.“The divestment of the Maari field further optimises our portfolio and will shift us in New Zealand t...

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