OMV Is Said to Explore Sale of International Oil, Gas Assets
- E&P assets in Mideast, Asia may attract PE firms, strategics
- Austrian company confirms it is assessing ‘strategic options’
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OMV AG is exploring a sale of some international oil and gas assets as the Austrian energy and chemicals company pushes ahead with a long-term goal to pull back from upstream production, people familiar with the matter said.
The government-backed company is working with advisers to gauge interest in the multibillion-dollar portfolio from private equity and strategic buyers, the people said, asking not to be identified discussing confidential information. OMV has upstream operations in places including Libya, Tunisia, United Arab Emirates, Yemen, Iraqi Kurdistan, Australia, New Zealand, Malaysia and Norway.