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News from April 21, 2007

A coordinated and aligned project in Iran on the basis of an integrated approach would involve two of OMV’s business segments (Exploration & Production and Gas) and would complement the planed LNG regasification terminal in Croatia, in the development of which OMV participates. According to current plans, the LNG terminal in Croatia should start operating in 2011/2012 and Iran, with its substantial gas reserves, could be a source of supply.

Further talks on this matter are confidential. Concrete results are not expected until the second half of 2007.

Balanced international E&P portfolio

OMV owns a balanced international E&P portfolio in 20 countries organized around six core regions, namely the Danube and Adriatic region, Northern Africa, Northwestern Europe, the Middle East, Australia/New Zealand and Russia/Caspian. OMV’s daily production volume is approximately 324,000 boe/d, and the company’s reserves are approximately 1.3 bn boe.

Background information:

South Pars Gas Field
The Iranian South Pars Gas Field and the North Field in Qatar is the largest known gas field in the world with estimated gas reserves of approximately 1,300 trillion cubic feet (221 bn boe). Of this, approximately 500 trillion cubic feet (85 bn boe) are located in Iranian territory. Iran plans to develop this gas field in several phases. The OMV-NIOC MoU concerns one of these phases of development (South Pars field phase 12).

OMV in Iran
OMV signed an exploration contract (exploration of oil and gas) for the Zagros region with the National Iranian Oil Company in May 2001. Work focuses on an area covering 2,500 km², the so-called “Mehr Block”. OMV (34% share) is the operator of the consortium, in which Repsol YPF (Spain) and Sipetrol (Chile) each hold 33%. The first exploration well was carried out successfully in January 2005. The drilling reached a depth of 4,148 meters. First production tests of the reservoir yielded an average flow rate of 1,040 bbl/day. In February 2007, the commerciality of the field was confirmed by the NIOC. A field development plan is being developed.

OMV Aktiengesellschaft
With Group sales of EUR 18.97 billion and a workforce of 40,993 employees in 2006, as well as market capitalization of approx. EUR 14 billion, 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 20 countries on five continents. OMV sells more than 14 bcm gas a year. OMV’s Austrian gas hub Baumgarten annually transports approximately 47 bcm of gas. OMV’s Central European Gas Hub is amongst the three largest hubs in Europe. OMV holds stakes in integrated chemical and petrochemical plants – 50% in AMI Agrolinz International GmbH and 35% stake in Borealis A/S, one of the world’s leading producers of polyolefin. Other important holdings are: 51% of Petrom SA, 50% of EconGas GmbH, 45% of the BAYERNOIL refining network and 10% of the Hungarian company MOL.

With the acquisition of a majority stake in the Romanian Petrom, OMV has become the largest oil and gas group in Central Europe, with oil and gas reserves of approx. 1.3 billion boe, daily production of around 324,000 boe and an annual refining capacity of 26.4 million metric tons. OMV now has over 2,540 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 34% of Petrol Ofisi in 2006, 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 Mio 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 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:


Bettina Gneisz
Tel.: 0043 1 40 440 21660
Thomas Huemer
Tel.: 0043 1 40 440 21660

Ana-Barbara Kunčič
Tel.: 0043 1 40 440 21600


Ballard Associates Limited
Louise Ballard                        
Tel.: +44 207 062 1193

Isabel Fox                              
Tel.: + 44 207 062 1192