OMV to Invest 10 Million a Year on Research and Education

Austria’s OMV plans to invest in the education of young people to secure the necessary expertise for the exploration and production of oil an gas, introducing a new degree program in cooperation with Montanuniversität Leoben.

“This will enable us to contribute to Austria’s competitiveness on the international stage,” OMV CEO Gerhard Roiss said in a note released on Tuesday.

Industry experts lament the lack of prepared professionals. OMV, which already initiated a joint program with Montanuniversität Leoben in 2012, is planning to double funds to around EUR 10 million a year. 

The company’s growth plans will require an additional 1,600 technical employees by 2016. The cooperation with universities could simplify access to pools of qualified graduates. 

"One of the greatest challenges of the future is securing the supply of energy and commodities", said Univ. Prof. Wilfried Eichlseder, Rector of Montanuniversität Leoben, underlining the importance of research and development activities in the field.