Value Chain

In Upstream, OMV focuses on the exploration, development, and production of oil and gas in its five core regions of Central and Eastern Europe, the Middle East and Africa, the North Sea, Russia, and Asia-Pacific. At the end of 2020, OMV had proven reserves (1P) of 1.33 bn boe and proven and probable reserves (2P) of 2.37 bn boe. The Reserve Replacement Rate (RRR) was 102% in 2020. Daily production was 463 kboe/d in 2020 (2019: 487 kboe/d), which equals a total production of 169 mn boe. While gas accounted for 62% of total production, oil amounted to 38%.

In Downstream, OMV operates three refineries in Europe: Schwechat (Austria) and Burghausen (Germany), both of which feature integrated petrochemical production, and the Petrobrazi refinery (Romania). In addition, OMV holds a 15% share each in ADNOC Refining, which operates the world-class Ruwais refinery in the United Arab Emirates, and in ADNOC Global Trading. OMV’s total global processing capacity exceeds 500 kbbl/d. Total refined product sales amounted to 17.81 mn t in 2020 (2019: 20.94 mn t). The retail network consists of around 2,100 filling stations ¹ On December 14, 2020, OMV and the EG Group reached an agreement for the acquisition of 285 filling stations in southern Germany by the EG Group. The transaction is subject to required regulatory approvals and the closing is expected in 2021. On February 4, 2021, OMV announced its intention to sell its business in Slovenia, including around 120 filling stations. in ten countries with a strong multi-brand market portfolio.

The natural gas sales volume was 164.0 TWh in 2020 (2019: 136.7 TWh). OMV owns gas storage facilities with a capacity of 30 TWh and a 51% share in Gas Connect Austria, which operates a 900 km natural gas pipeline network. ² On September 23, 2020, OMV and VERBUND reached an agreement for the acquisition of a 51% interest in Gas Connect Austria GmbH by VERBUND. The closing is subject to regulatory approval and is expected in the first half of 2021. The Central European Gas Hub (CEGH), in which OMV holds a 65% share, is a well-established gas trading platform. The node in Baumgarten, Austria, is Central Europe’s largest entry and distribution point for Russian gas. In addition, OMV operates a gas-fired power plant in Romania.

On October 29, 2020, OMV completed the acquisition of an additional 39% interest in Borealis from Mubadala, and now holds a majority stake of 75%. Borealis is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers, and mechanical plastics recycling. Starting in April, OMV will be reorganized intro three reporting segments: Exploration & Production, Refining & Marketing, and Chemicals & Materials. The new corporate structure will expedite the integration of Borealis into the OMV Group and accelerate the expansion of the Chemicals & Materials business.

Sustainability is an integral part of OMV’s Corporate Strategy. OMV supports the transition to a lower-carbon economy. The Group has set measurable targets for reducing carbon intensity and aims to become a leading player in the circular economy.