OMV selling upstream interests in Pakistan

OMV has agreed to sell its exploration and production interests in Pakistan to Dragon Prime Hong Kong Ltd., Hong Kong, for €157 million, subject to adjustments.

OMV has agreed to sell its exploration and production interests in Pakistan to Dragon Prime Hong Kong Ltd., Hong Kong, for €157 million, subject to adjustments.

OMV Pakistan holds interests in five development and production leases and operates the productive Sawan, Miano, Latif, Gambat, and Mehar blocks. Gross production is about 170 MMscfd of natural gas and 1,450 b/d of condensate.

The company also holds interests in five exploration blocks and operates four of them.

Excluded from the deal is OMV’s 10% interest in Parco, a joint venture between Pakistan and Abu Dhabi.

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