Austrian energy group OMV has said it is well on course to achieve its target of 350,000 barrels of oil equivalent/day (boe/d) by 2016 despite the uncertainties in two of its main producing countries – Libya and Yemen. This announcement comes after a year in which the company has more than doubled its project pipeline to around 900mn boe/d.

Speaking at a press conference webcast following the release of the company’s 2012 results earlier this month, OMV head of Upstream Exploration and Production (E&P) Jaap Huijskes said that while the starting point for this growth would most certainly be from its core countries – namely Austria and Romania – OMV was building a global portfolio that would see it through to 2016 and beyond. (CONTINUED - 793 WORDS)