OMV Petrom hydrocarbon production falls 2.2 pct in Q2 y-o-y

Hydrocarbon production of OMV Petrom decreased by 2.2 percent in the third quarter compared with the same period of last year, to 174,000 barrels of oil equivalent (boe) per day in the context of scheduled jobs on some of the company’s important wells, Mediafax informs.

Between July and September of last year, the company recorded a production of 178,000 boe per day.

In the second quarter of this year, OMV Petrom reported a hydrocarbon production of 181,000 barrels of oil equivalent per day, after 184,000 boe per day in the first three months of the year.

At group level, production decreased by 6.1 percent in the third quarter to 292,000 boe per day from 311,000 boe per day in the same period of the previous year.

“The decrease was due to lower production contributions in Romania, where planned works to important wells were executed, and production in Norway (…). The sales volume was 7 percent below that of the previous quarter, mainly due to lower production in Norway and Romania,” reads a report of the Austrian group OMV.

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Natural gas sales volume of OMV rose in the third quarter to 20.36 TWh, from 19.5 TWh during the same period of the previous year.

Net production of electricity increased in the third quarter as a result of an improved situation in the markets of Turkey and Romania.

OMV Petrom is owned by OMV Group with a 51 percent stake. The Romanian state, through the Ministry of Energy has a stake of 20.63 percent and Fondul Proprietatea (FP) 18.99 percent, while the remaining shares are held by other shareholders.

Natalia Martian