A recovery in Libya and the restart of Yemen’s main export pipeline has managed to boost OMV production in the third quarter of this year. Despite this, the Austrian energy group still faces considerable challenges. OMV upped its overall oil and gas production to 309,000 barrels of oil equivalent/day (boe/d) in the third quarter of this year, on account of a long-awaited return to production in Yemen, the Middle East-focused oil firm said on 19 October.
“Overall, production increased compared to the previous quarter, mainly due to a recovery of production in Yemen as well as a stronger contribution from Austria and Tunisia,” the company said. “This increase was partly offset by lower production mainly in the UK,” it continued, referring to the company’s assets in the North Sea. (CONTINUED - 758 WORDS)