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Infrastructure

OMV selling out of Maari oil field

Gavin Evans
Tue, 19 Nov 2019

Gavin Evans
Tue, 19 Nov 2019
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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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