The Austrian oil and gas company OMV and Gazprom intend to complete a transaction for the purchase of a stake in the development project of the Achimov deposits of the Urengoy field in the first quarter of 2019, the mass media reported, cited head of the Austrian company Rainer Seele.

"Alexei Miller and I agreed quite clearly that in the first quarter of next year we intended to sign agreements and set prices," R. Seele said.

He said that he was talking about a deal on the sale of lands, not on exchange of assets.

In September 2015, the parties signed the first agreement on the exchange of the assets. In case of approval of the transaction, it was planned that OMV would receive a share of 24.98% in the project to develop the 4A and 5A sites of the Achimov deposits of the Urengoy oil and gas condensate field of Gazprom. The reserves of the Urengoy field are estimated at 274 billion cubic meters of gas and 74 million tons of gas condensate.

Initially, Gazprom and OMV planned an asset exchange transaction, under which the Austrian side was to receive 24.98% in the Yamal development project, and Gazprom - 38.5% in Norwegian OMV Norge AS.

Source: Rusmininfo   l   KeyFacts Energy Industry Directory: Rusmininfo