The Norwegian consortium that wants to take over OMV’s oil and gas production is taking shape. Specifically, a medium-sized Norwegian producer, a private equity fund and an oil and gas trader have expressed an interest in taking over the majority in OMV’s oil and gas production (E&P), reports the “Kurier” in its online edition with reference to a corresponding letter. The consortium promises Austria’s security of supply with gas.
Not an offer, but a declaration of intent
The letter is de facto not an offer, but only a declaration of intent. This bears the signature of OMV Vice CEO Johann Pleininger, who is said to have pulled the strings in the background. Pleininger is responsible for E&P on the board, his contract will not be extended.
The consortium consists of four members, the newspaper quotes from the letter that was reportedly sent to Finance Minister Magnus Brunner (ÖVP) on July 25. The consortium is led by Norwegian oil and gas manager Sverre Skogen. He is currently the CEO of a small Norwegian company called Mime with annual sales of around EUR 35 million in 2021.
Aker ASA + DNO, a holding company that is listed on the Oslo Stock Exchange, is also listed as a “big player”. According to the report, subsidiary Aker BP, which is also listed, has six production assets in Norway with a total production of 650,000 barrels per day. This makes it slightly larger than OMV.