Rohöl-Aufsuchungs Aktiengesellschaft

Rohöl-Aufsuchungs Aktiengesellschaft (RAG) is an oil and gas company with headquarters in Vienna, Austria. The operations center responsible for drilling and production is situated in Gampern, Upper Austria. Together with Wingas and Gazprom Export it owns the Haidach gas storage.

History

The company was founded in 1935 by Socony Vacuum Oil, Inc. (now part of ExxonMobil) and N.V.de Bataafsche Petroleum Maatschappij (now part of Royal Dutch Shell). In 1937, the was found in Lower Austria. In 1946, the company was nationalized. The private ownership was restored in 1955. In 1992, EVN Energie-Versorgung Niederösterreich AG acquired 50% of the share capital. Mobil Oil Austria AG and Shell Austria AG hold 25% each, Mobil's operatorship continued. Later the EVN's ownership was transferred to RAG-Beteiligungs AG, in which E.ON, Salzburg AG für Energie, Verkehr und Telekommunikation and Steirische Ferngas AG became co-shareholders. In 1998, Mobil Oil Austria sells its 25% share to RAG Holding AG whose shareholders and shares are identical with those of RAG Beteiligungs-AG. At the same time Shell International E & P took over operatorship of the company. In 2001, the first natural gas was sold to Italy and Germany.^[1] In 2005, RAG started the Underground Gas Storage Facility Haidach.

Shareholders

The current shareholders of the company are Shell (25%) and RAG-Beteiligungs AG (75%). The shareholders of RAG-Beteiligungs AG are EVN (50.05%), E.ON (29.95%), Salzburg AG für Energie, Verkehr und Telekommunikation (10%) and Steirische Ferngas AG (10%).

References

External links

• Company website