Austrian oil, gas and power firm OMV said yesterday production in the first quarter of the year had increased despite North Sea asset sales.
The company said daily output in the first three months of the year was 302,000 barrels of oil equivalent, up 1% on the same period last year.
OMV said production lost after selling a 5% stake in the Beryl North Sea field for about £75million had been offset by rising output in Libya and Yemen.
Chief executive Gerhard Roiss said: “In the first quarter of 2013, we again showed a strong operational performance and continued to deliver on our strategy.
“We managed to increase production . . . in spite of the divestments in the UK North Sea and production at Schiehallion being suspended in order to progress the field redevelopment.”
OMV said turnover in the quarter was up 4% to £9.2billion, while earnings before interest and tax rose 38% to £1billion.
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