The investments are part of the company’s ‘Matzen Neu’ modernization project, which includes the construction of a new central production facility and the renewal and optimization of its pipeline network that encompasses approximately 60km. Part of the investment will also be in the company’s field development project, ‘Ebenthal Tief.’
The E70 million ‘Matzen Neu’ project will modernize the infrastructure of the oil field in Matzen, while the E50 million ‘Ebenthal Tief’ field development project includes pipeline construction in order to connect the gas field to the 16km distant compressor station in Auersthal, Austria. OMV anticipates that the field development will create additional reserves of approximately 1.5bcm.
OMV has commented that these projects are an important step in securing Austrian gas production in the long term, as well as securing the region’s energy supply. In 2006, OMV’s domestic oil and gas production amounted to 14 million boe. By 2010, OMV aims to increase this by 25%.
Reinhart Samhaber, managing director of OMV Austria exploration and production, said: The project ‘Matzen Neu’ is the biggest infrastructure project of OMV Austria so far. We are preparing for the coming decades, in order to be able to continue to make an important contribution to OMV’s production of oil and gas.
