Voices in the street indicate that RohÃ¶l-Aufsuchungs AG (RAG) is seeking to divest its domestic exploration and production assets located in central Austria. Industry buzz suggests that the company is intending to retain the producing assets with further work obligations, as well as its gas storage business. It is understood that the process of strategic realignment, started already with the divestiture of the companyâs Germany business in late 2017, includes also the assets in Hungary and Romania. In central Austria, near the city of Salzburg, the company is holding the contracts Upper Austria (5,587 sq km), Salzburg (555 sq km), as well as a series of oil, gas and oil/gas producing assets. There were rumours suggesting that Austriaâs other exploration and production corporation, OMV, was to acquire parts of the assets of RAG.
Austria, Upper Austria