GAZPROM, OMV DEAL $1 BLN
GAZPROM - June 7, 2019, 14:40 - Alexey Miller, Chairman of the Gazprom Management Committee, and Rainer Seele, Chairman of the Executive Board of OMV, today signed at the St. Petersburg International Economic Forum 2019 the Contract on the amendments to the Basic Agreement on Asset Sale.
The signing ceremony took place in the presence of Alexander Novak, Minister of Energy of the Russian Federation, and Elisabeth Udolf-Strobl, Minister for Digital and Economic Affairs of Austria.
The document sets the price of the deal during which OMV will obtain a 24.98 per cent stake in the project for developing Blocks 4A and 5A in the Achimov formations of the Urengoyskoye field at EUR 905 million (USD 1.02 billion at the cross rate of the Central Bank of the Russian Federation as of June 7, 2019). The parties plan to enter into the final agreement on the deal before the end of 2019.
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