Oil & gas major OMV inks $540m deal with Malaysia’s Sapura to spur Asia expansion

OMV
A worker adjusts a drill pipe on an oil rig of Austria's oil and gas group OMV at their exploratory drilling site near Maustrenk, Austria October 9, 2018. REUTERS/Leonhard Foeger

Austrian oil and gas group OMV has agreed on a joint venture with Malaysia’s Sapura Energy, paying $540 million for a 50 percent stake in its exploration assets, aiming to use it as a springboard for further expansion in Asia.

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