Weekly Recap: Iasar oil find in Sirte Basin and EIB loan for 140MW plant

OMV AG (VIE:OMV) is concurrently fast-tracking oil output from its commercially viable Iasar discovery in Libya’s Sirte Basin—~195 million barrels recoverable with ~5,000 bpd planned startup—and advancing a €600m investment including a 140 MW green hydrogen plant in Lower Austria backed by a €450m EIB loan.

Previous Week Recap

• OMV Iasar Discovery Viable: OMV’s Iasar discovery in Libya’s Sirte Basin is commercially viable, with ~195 million barrels recoverable from upper and lower Sabil reservoirs and planned production of ~5,000 bpd, startup ASAP.
• EIB Loan Funds Hydrogen Plant: OMV AG secured a €450m EIB loan to fund a 140 MW green hydrogen plant in Lower Austria. Project is part of a €600m investment and is under construction.

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