RAG Exploration & Production


Two firms – one history

Rohöl-Aufsuchungs Aktiengesellschaft (RAG) – which pioneered oil production in Austria – split into two new companies, RAG Austria AG and RAG Exploration & Production GmbH, during the 2017/18 financial year. This reorganisation rounded off a change process going back to the creation of the Exploration & Production (E&P) and the Gas Storage and New Energy Technologies business areas in the 1990s.

While RAG Exploration & Production brings together conventional E&P activities, RAG Austria AG concentrates on the core gas storage business, as well as innovative and groundbreaking frontier energy storage technology such as Underground Sun Storage and Underground Sun Conversion.

This restructuring exercise is aimed at strengthening the two businesses and in turn enabling them to continue making key contributions to the Austrian economy by underpinning sustainable raw material and energy supplies.

The history of RAG Exploration & Production goes back to 1935, when Rohöl-Aufsuchungs Aktiengesellschaft, Austria’s oil industry pioneer, launched its exploration and production activities in Lower Austria. Conventional domestic oil and gas exploration and production have been RAG’s core business for decades. Innovative technologies and automation solutions developed by RAG have won plaudits from around the world and have helped the company to set new standards in efficiency. This has been an important step – oil is an indispensable and hugely valuable raw material, especially for the chemical industry, where it remains a vital feedstock. It is an irreplaceable base material for over 90% of all chemical products, including plastics, detergents, cosmetics and fertilisers.

RAG Exploration & Production’s wide-ranging expertise, ability to innovate, and vision to be an industry trendsetter that spots and exploits new business opportunities quickly and effectively have long made it successful and fit for the future.