Today, OMV, the international integrated oil and gas company based in Vienna, closed the sale of its Upstream companies active in Pakistan to Dragon Prime Hong Kong Limited, a wholly-owned subsidiary of United Energy Group Limited, an independent exploration and production company. The final purchase price is approximately EUR 158 mn. The transaction was signed on February 28, 2018.
Johann Pleininger, OMV Board Member Upstream and Deputy Chairman of the Executive Board:“The divestment represents a further step in optimizing OMV's Upstream portfolio.”
OMV continues to hold a 10% stake in PARCO, a joint venture between Pakistan and Abu Dhabi in the Downstream business in Pakistan. This stake is not part of the divestment.