He was actively involved in well site geology, production geology and geological/geophysical definition of drill prospects in the Vienna Basin as well as in the Limestone Alpine Zone west of Vienna.
In July 1981 Mr. Wachtel joined the department for International Exploration. He was responsible for monitoring and control of exploration programs and budgets related to OMV's Joint Ventures in W-, N-Africa and the Norwegian North Sea. Mr. Wachtel represented OMV in the corresponding Technical and Management Committee Meetings.
From January 1985 to May 1992 Mr. Wachtel was seconded to OMV Libya as Exploration Manager. He was responsively involved in monitoring and control of exploration programs and budgets related to OMV's interests in Zueitina Oil company as well as in the preparation and conduct of OMV's first international exploration campaign as operator, which resulted in the discovery of the Shatira field.
In June 1992 Mr. Wachtel returned to the OMV head office in Vienna, where he joined the E&P Joint Ventures Department as Area Manager responsible for OMV's Joint Ventures in W-and N-Africa. In 1993 he became actively involved as OMV representative in the contract negotiations with the Libyan National Oil Corporation for the development of the giant EL Sharara Field, The negotiations were concluded successfully in 1994 and the field is producing today more than 200,000 bopd.
In January 1996 Mr. Wachtel was appointed Vice President of the E&P Joint Ventures Department responsible for the Business Development of OMV's international core areas Libya, United Kingdom and Pakistan.
From March 2000 till August 2004, Mr. Wachtel was assigned as General Manager for the Business Unit Libya. During which time he expanded OMV's business in Libya considerably.
Currently, since September 2004, he has taken over as the General Manager OMV (Pakistan). OMV (Pakistan) runs production/operation of 100M boe/day from 2 major gas fields, and conducts exploration activities in 6 blocks.