Rohöl-Aufsuchungs Aktiengesellschaft

Rohöl-Aufsuchungs Aktiengesellschaft (RAG) is an oil and gas company with headquarte in Krift, Austria. Together with Wingas it operates the largest natural gas storage facilitiy in Austria in Haidach.

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.cite web
url = http://viennabasin.spe.org/section.cfm?id=43
title = Upstream oil and gas companies
publisher = Society of Petroleum Engineers. Vienna Basin Section
accessdate = 2008-07-08] In 2005, RAG started the Underground Gas Storage Facility Haidach.

hareholders

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

* [http://www.rohoel.at/ Company website]