Russia's Gazprom, Austria's OMV CEOs to Sign Deal on Asset Swap

Alexey Miller, the CEO of the Russian energy giant Gazprom, and Rainer Seele, the CEO of Austria's energy company OMV, on Wednesday signed a final agreement on asset swap.

VIENNA (Sputnik) — Earlier in the day, a top OMV executive said that the two companies had already reached a basic agreement on the asset swap.

Within the framework of the deal, the Austrian company received a 24.98-percent stake in a project to develop two blocks at an oil, gas and condensate field in north-central Russia.

In exchange, Gazprom received a 38.5-percent participation in OMV Norge AS, which has 32 licenses and the OMV is operating five of them.

The swap between the two companies does not include additional payments, apart from payments to close the deal.