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OMV to invest $45 million in Pakistan IN 2016

1. June 2016

OMV has invested $2.5 billion in oil and gas exploration since commencing operations in 1991 in Pakistan and the company is investing $45 million this year.

Austrian-based OMV celebrated its 25 years operation in Pakistan. During an event in Islamabad the OMV Board Chairman and CEO Dr. Rainer Seele announced that it plans to invest $45 million into tapping hydrocarbon reserves in 2016 to meet the energy demands of Pakistan. 

 OMV has already completed 25 years of working in Pakistan and within 2 years of its work, discovered Miano field in the thar desert of Sindh. In 1998, it discovered gas at Sawan field which is also in Sindh. The company has already expanded operations to Balochistan and Punjab. 

At present, OMV is producing 8% of Pakistan’s total natural gas output and is increasing investment.

OMV (Pakistan) has established itself as the largest international gas producer in Pakistan with a volume of more than 110,000 barrels of oil equivalent per day from Kadanwari-Miano and Sawan fields.

OMV CEO said parallel to the Sawan development work, the company also took over the Kadanwari gas processing plant in January 2003 from Lasmo, currently Eni.

OMV has remained quite aggressive in development work as capacity of the Kadanwari processing plant has been enhanced to 232 million cubic feet per day (mmcfd) while capacity of the Sawan plant has gone up to 400mmcfd.