80% OMV interest in the Sidi Mansour block in the Gulf of Gabes
OMV with a total of five production and two exploration licenses in Tunisia
Strengthened position in E&P core region North Africa
OMV Aktiengesellschaft, the leading oil and gas group in Central Europe, strengthens its E&P position in its North Africa core region by acquiring an 80% interest as operator in the "Sidi Mansour" exploration license in offshore Tunisia from Thani Tunisia Sidi Mansour B.V.. The block covers an area of 6,592 km² and is located approximately 30 km north of the producing oilfield Ashtart in which OMV holds an interest. The assignment is subject to approval by ETAP, the Tunisian national oil company, and the Tunisian authorities. The expansion of OMV´s activities in the core region North Africa is in line with the growth strategy in E&P business.
Helmut Langanger, OMV Executive Board Member responsible for Exploration and Production stated: "By acquiring high-quality exploration areas we will strengthen our position as operator in Tunisia where we want to grow onshore as well as offshore."
The license encompasses an area of 6,592 km2 with water depths ranging from 0 to 60 meters. It is located in the Gulf of Gabes, approximately 30 km north of the oilfield Ashtart and is in the immediate vicinity of the producing oilfield Cercina , in both of which OMV holds interests. OMV, together with ETAP, also holds a 50% interest in the exploration permit Jenein Sud in Southern Tunisia containing the two discoveries Warda and Nawara.
Work on the awarded block will commence in 2008 with the acquisition of 500 km of 2D seismic.
Balanced international E&P portfolio
OMV holds a balanced international E&P portfolio in 21 countries structured around six core regions, namely CEE, North Africa, Northwestern Europe, the Middle East, Australia/New Zealand and Russia/Caspian region. OMV's daily production volume is approximately 321,000 boe/d, and the company's reserves at the end of 2007 were approximately 1.22 bn boe.
OMV share in the awarded block Sidi Mansour: Gulf of Gabes, offshore Tunisia
OMV (TUNESIEN) Sidi Mansour GmbH, operator - 80%
Thani Tunisia Sidi Mansour B.V. - 20%
(a subsidiary of the DUBAI based Thani Emirates Petroleum Corporation)
-Ends-
OMV in Tunisia
OMV first became active in Tunisia in the early 1970s. OMV's acquisition of the E&P-assets of Preussag in 2003 gave OMV access to seven producing oil fields in the southeast of the country. The most prolific of these is the field Ashtart. OMV in Tunisia has currently interests in two exploration and five production licenses. It's current production in Tunisia amounts to approximately 9,000 boe per day. In addition OMV operates the Jenein Sud exploration block which is situated in the Tunisian extension of the Ghadames basin.
OMV Aktiengesellschaft
With Group sales of EUR 20.04 bn and a workforce of 33,665 employees in 2007, as well as market capitalization of approx. EUR 14 bn, OMV Aktiengesellschaft is Austria's largest listed industrial company. As the leading oil and gas group in Central Europe, OMV is active in Refining and Marketing (R&M) in 13 countries. In Exploration and Production (E&P) OMV is active in 21 countries on five continents. OMV sells more than 13 bcm gas a year. OMV's Austrian gas hub Baumgarten annually transports approximately 52 bcm of gas. OMV's Central European Gas Hub is amongst the three largest hubs in Europe.
OMV is the largest oil and gas group in Central Europe, with oil and gas reserves of approx. 1.22 bn boe, daily production of around 321,000 boe and an annual refining capacity of 26.4 mn t. OMV now has 2,538 filling stations in 13 countries. The market share of the group in the R&M business segment in the Danube Region is now 20%.
OMV further strengthened its leading position in the European growth belt through the acquisition of 40.40% of Petrol Ofisi, Turkey's leading company in the retail and commercial business.
In June 2006, OMV has established the OMV Future Energy Fund, a wholly owned subsidiary to support projects in renewable energy with more than EUR 100 mn to initiate the change from a pure oil and gas group to an energy group with renewable energy in its portfolio.
OMV: Corporate Social Responsibility (CSR)
OMV is a member of the U.N. Global Compact and actively committed to the values enshrined in its Code of Conduct. These include a strong sense of responsibility towards the social and natural environment in economically weak regions. OMV works hard to address economic, environmental and social issues related to its operations. Its CSR activities are fully documented in biannual performance reports compiled according to Global Reporting Initiative guidelines.
For further questions please contact:
OMV
Press:
Bettina Gneisz
Tel.: 0043 1 40 440 21660
E-Mail: bettina.gneisz@omv.com
Thomas Huemer
Tel.: 0043 1 40 440 21660
E-Mail: thomas.huemer@omv.com
Investors/Analysts:
Ana-Barbara Kun?i?
Tel.: 0043 1 40 440 21600
E-Mail: investor.relations@omv.com
Internet: http://www.omv.com
Ballard Associates Limited
Louise Ballard
Tel.: +44 207 062 1193
E-mail: louise@ballard-associates.com
© Press Release 2008
