RAG Exploration & Production produces crude oil in Upper Austria, making a major economic contribution that supports the long-term, regional production and supply of this valuable raw material.
Oil production operations were integrated into RAG Exploration & Production in 2017. Fully owned by RAG Austria AG, the company has a history stretching back 85 years. The company has decades of experience in conventional exploration for and production of domestic mineral oil. Thanks to its extensive know-how and innovative methods that have won it admirers abroad, RAG Exploration & Production’s operations stand out for their high efficiency. Technologies and automation solutions developed in-house play a key role in boosting oil production efficiency. This helps the company to withstand phases when oil prices are low, enabling it to maintain supplies of domestic oil and reduce the country’s dependence on imports.
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.
RAG Exploration & Production accounts for 7% of Austria’s total oil output of 664,000 tonnes (2018) – roughly equivalent to the amount needed by industry in Upper Austria each year (around 82,000 tonnes in 2018).
The company RAG Exploration & Production GmbH is a wholly owned subsidiary of RAG Austria AG.