Exploration & Production

OMV to take FID on Black Sea project by Q1 2019

Austria’s OMV has said it is ready to take an FID on its plans for oil and gas production in Romania’s section of the Black Sea
By Staff reporter 7 September 2018 0 32459

Austria’s OMV has said it is ready to take an FID on its plans for oil and gas production in Romania’s section of the Black Sea this year or in Q1 2019 should Romania approve an acceptable legal framework by then.

“I trust the Romanian government to make a sensible proposal that will be accepted by industry,” Johann Pleininger, deputy chairman of OMV’s management board, told Reuters on Friday.

He added he expected a decision in the autumn. The investment decision could follow “either...