OMV Group Announce Q3 2017 Report
Including condensed consolidated financial statements as of September 30, 2017
Key Performance Indicators, Group
Clean CCS Operating Result increased by 52% to EUR 804 mn
Clean CCS net income attributable to stockholders amounted to EUR 472 mn, clean CCS Earnings Per Share were EUR 1.45
Strong free cash flow after dividend payments at EUR 478 mn
High cash flow from operating activities of EUR 792 mn
Clean CCS ROACE at 12%
High level of production at 341 kboe/d, up by 40 kboe/d
Production cost decreased by 13% to USD 8.8/boe
OMV indicator refining margin nearly doubled to USD 7.0/bbl
Natural gas sales increased to 24 TWh
Power business had a significantly improved performance
On August 2, 2017, OMV closed the sale of its 50% stake in the Ashtart oil field, in the Gulf of Gabes, Tunisia, as well as its 50% stake in the operating company SEREPT to Perenco. OMV’s average net production from Ashtart was 3,000 boe/d in 2016.
On August 30, 2017, the Kurdistan Regional Government of Iraq and Dana Gas PJCS, Crescent Petroleum and Pearl Petroleum Company Limited (“Pearl,” OMV share 10%) reached a settlement over a dispute concerning certain matters under the Heads of Agreement on the Khor Mor and Chemchemal fields.
OMV’s Upstream clean Operating Result was positively impacted by about EUR 90 mn in Q3/17. As a result of the settlement, OMV received EUR 50 mn in the form of a dividend from Pearl, while the remainder was put into a dedicated account for future investments in Khor Mor.
Source / More: OMV
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