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.
South Pars Gas FieldOMV in Iran
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 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 AktiengesellschaftWith 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)
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.
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
For further questions please contact:
Tel.: 0043 1 40 440 21660
Tel.: 0043 1 40 440 21660
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Ballard Associates Limited
Tel.: +44 207 062 1193
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