OMV divests Samsun power plant to Bilgin Enerji

OMV, the international integrated oil and gas company based in Vienna, has reached an agreement to sell OMV Samsun Elektrik Üretim Sanayi ve Ticaret A.Ş. to Yapisan Elektrik Üretim A.Ş., a subsidiary of Bilgin Enerji, based in Ankara. The parties have agreed not to disclose the consideration. The transaction is subject to the approval of the Turkish competition council and other Turkish authorities. Closing is expected in Q4/18 at the latest.

Samsun Elektrik Üretim A.Ş. runs a gas-fired cycle power plant with a capacity of 890 MW in Terme, Samsun Province, Turkey. The plant commenced operations in 2013.

Manfred Leitner, OMV Executive Board Member for Downstream: “ The divestment of the Samsun power plant is in line with OMV’s strategy 2025 to further optimize its portfolio. It is the final step in the strategic target to reduce the exposure of the nonintegrated power business.”

Bilgin Enerji CEO, Tolga Bilgin: “By acquiring one of the most efficient and flexible gas-powered plants in Turkey, we will have the ability to balance our renewable energy portfolio. Our share in the Turkish electricity market will increase substantially and our total installed capacity will be 1,760 MW.”

OMV will remain in Turkey with its energy sales & trading business.

OMV is producing and marketing oil and gas, innovative energy and high-end petrochemical solutions – in a responsible way. With Group sales of EUR 20 bn and a workforce of around 20,700 employees in 2017, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Upstream, OMV has a strong base in Romania and Austria and a balanced international portfolio, with the North Sea, the Middle East & Africa and Russia as further core regions. 2017 daily production stood at approximately 348,000 boe/d. In Downstream, OMV operates three refineries with a total annual processing capacity of 17.8 mn tonnes and more than 2,000 filling stations in ten countries as of year-end 2017. OMV operates a gas pipeline network in Austria and gas storage facilities in Austria and Germany. In 2017, gas sales volumes amounted to 113 TWh. 

Background information:
  
OMV Aktiengesellschaft

OMV is producing and marketing oil and gas, innovative energy and high-end petrochemical solutions – in a responsible way. With Group sales of EUR 20 bn and a workforce of around 20,700 employees in 2017, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Upstream, OMV has a strong base in Romania and Austria and a balanced international portfolio, with the North Sea, the Middle East & Africa and Russia as further core regions. 2017 daily production stood at approximately 348,000 boe/d. In Downstream, OMV operates three refineries with a total annual processing capacity of 17.8 mn tonnes and more than 2,000 filling stations in ten countries as of year-end 2017. OMV operates a gas pipeline network in Austria and gas storage facilities in Austria and Germany. In 2017, gas sales volumes amounted to 113 TWh.