EANS-Adhoc: OMV Aktiengesellschaft
ExxonMobil/OMV Petrom: Deep water gas
discovery offshore Romania
-------------------------------------------------------------------------------- ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- OMV / Oil / Gas / Austria 22.02.2012 ExxonMobil Exploration and Production Romania Limited (EMEPRL), an affiliate of Exxon Mobil Corporation and OMV Petrom SA, the 51% subsidiary of OMV Aktiengesellschaft, today confirmed a potentially significant gas discovery offshore Romania. Operated by ExxonMobil, the Domino-1 well is the first deep water exploration well offshore Romania and has a total depth of more than 3,000 m below sea level. The Domino-1 well is located in the Neptun Block, 170 km offshore in water approximately 930 m deep. The exploration well encountered 70.7 m of net gas pay, resulting in a preliminary estimate for the accumulation ranging from 1.5 to 3 trillion cf (42 to 84 bn m³). Drilling operations started at year-end 2011 and are in the process to be finalized. ExxonMobil and OMV plan new 3D seismic acquisition during 2012. The evaluation of the Domino-1 well results and the new seismic will determine next steps. It is too early in the data evaluation and exploration process to determine whether the Neptun block will ultimately prove to be commercially developable or not. However, should further work confirm the technical and commercial feasibility of deep water gas production from the Neptun block, further investment during both the exploration and development phases could reach several billion USD with the potential for first production towards the end of the decade at the earliest. Further inquiry note: OMV Investor Relations: Lacramioara Diaconu Tel. +43 1 40 440-21600 e-mail: investor.relations@omv.com Media Relations: Johannes Vetter Tel. +43 1 40 440-21661 e-mail: media.relations@omv.com Internet Homepage: http://www.omv.com end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: OMV Aktiengesellschaft Trabrennstraße 6-8 A-1020 Wien phone: +43 1 40440/21600 FAX: +43 1 40440/621600 mail: investor.relations@omv.com WWW: http://www.omv.com sector: Oil & Gas - Downstream activities ISIN: AT0000743059 indexes: ATX Prime, ATX stockmarkets: official market: Wien language: English
Original content of: OMV Aktiengesellschaft, transmitted by news aktuell