80 years of history, extensive experience in oil & gas exploration, production, and storage operation play a key role in unlocking significant energy resources.
RAG is Austria’s oldest established exploration, production and gas storage company, founded in 1935 as a Joint Venture between Shell and Mobil. In 2007, after 70 years of oil & gas production solely focused on Austria, the two Majors left RAG as an independent company. The core areas of business are crude oil and natural gas exploration and production, trading and gas storage. Integrated E&P Services (Drilling, Well Engineering, Completion and Testing, Wireline and Slickline Services) as well as production technology and mature field operation expertise support RAG business areas, joint venture partners and external customers.
RAG provides highest level of technical and economic performance and defends its competitive position based on innovation.
RAG is one of the leading Austrian companies with total assets of some 700 Mio EUR financed by roughly 30 % equity and around 400 employees. The company generates revenues of some 450 Mio EUR, a cash flow of some 150 Mio EUR, and achieves a profitability of more than 15 % (ROACE). Furthermore, RAG is the 4th largest Underground Gas Storage operator in Europe with a total storage volume of around 6 billion cubic meters.
We offer the following services as an expert for mature fields