MOSCOW (Pakistan Point News / Sputnik - 28th July, 2023) Austrian oil and gas company OMV said on Friday that it had discovered a large gas field in Austria at a depth of 5,000 meters (about 16,000 feet) that is expected to increase gas production nationwide by 50%.
"OMV today announced the Wittau Tief-2a exploration well to be a confirmed new natural gas discovery. The OMV operated well is located in Lower Austria and was drilled at a final depth of 5,000 meters after five months of operations," the company said in a statement.
Preliminary estimates showed that the potential recoverable resources amount to about 48 TWh (28 million barrels of oil equivalent), the company noted. As a result, once the field is fully developed, OMV expects natural gas production in Austria to increase by 50%.
OMV is one of the largest energy companies in Central Europe. It is engaged in exploration and production of hydrocarbons in 17 countries, including countries of North Africa, Northwest Europe, the middle East, the Caspian region, Australia, and New Zealand.
