Fossil Energy – OMV
European energy major OMV is committed to exploration and is aiming to drill about 50 wells over the next five years with the best potential in the Black Sea and Norway.
The Austrian company recently said it is committed to spending about €200 million ($232 million) annually on exploration until 2030.
Some of the approximately 50 planned wells are ‘very, very exciting wells, meaning there might be new hub openers or new play openers’.
The Black Sea, where OMV is creating a stronghold through its Neptun Deep gas project, also has excellent exploration potential.
There are some very exciting prospects that OMV is chasing, for instance, offshore Bulgaria.
