The Austrian oil and gas company OMV has completed the acquisition of Uniper's 24.99% stake in the Yuzhno Russkoye gas field in Western Siberia (Yamal-Nenets region) in Russia for €1.72bn. The transaction has been cleared by the relevant authorities and marks the exit of Uniper from the Russian gas field. Uniper divested the asset to reduce its debt exposure, while this acquisition will enhance OMV's total production by 100,000 boe/d up to 430,000 boe/d.
Yuzhno Russkoye is one of the largest gas fields in Russia, with recoverable reserves of 2.32 Gboe (580 mboe for OMV based on its 24.99% share). The production has already started since 2007 and the current plateau production of the asset averages 25 bcm/year since 2009. The field's license is set to expire in 2043. The field will be the primary source for the Nord Stream pipeline and its production will be supplied directly to Germany.