OMV closes acquisition of Shell’s Upstream business in New Zealand

December 28, 2018

OMV, the international integrated oil and gas company based in Vienna, closes the acquisition of Shell’s Upstream business in New Zealand comprising joint venture interests in Pohokura (48%), the largest gas producing field in New Zealand, and Maui (83.75%) as well as related infrastructure for production, storage and transportation.

OMV has been partner in the acquired assets (OMV’s former stakes: 26% in Pohokura and 10% in Maui) and now assumes operatorship in both joint ventures.

The economic effective date of the transaction is January 1, 2018.

The purchase price is USD 578 mn and subject to customary adjustments.

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