GSB Work Commitment Changes Approved

OMV Aktiengesellschaft

Media statement

8 April 2011

GSB Work Commitment Changes Approved

• Work commitments for GSB permits now include 3D seismic and/or drilling

• JV continues working towards July decision date

OMV New Zealand and its Joint Venture partners have confirmed that applications to modify the current work commitments to include the acquisition of 3D seismic data and/or drilling in their Great South Basin exploration permits were approved by MED on 25th March 2011.

The number of commitments in each permit remains the same, as does the decision date for confirmation of the commitments.

“Allowing for either drilling and/or 3D seismic acquisition during the next phase of work gives us greater flexibility as we work through our next steps,” Managing Director for OMV New Zealand, Dr Wayne Kirk explained.

“It’s important to note that very little was known about the Great South Basin geology when OMV and its Joint Venture partners were awarded the permits in July 2007.”

Since then, the Joint Venture has acquired 16,000 km of 2D seismic data in 2008, plus an additional 2,600 km of 2D seismic data in 2010.

“We’ve now evaluated this data and believe that there are a number of prospective areas which may benefit from 3D seismic definition prior to drilling.”

Dr Kirk reiterated that the Joint Venture continues working towards the July 10th decision date, but no final decisions over drilling, 3D seismic or individual licence continuations have been made.

If the decision is made to commit to further work, the activity must occur by July 10th 2012.

The Great South Basin permits 50119, 50120 and 50121 are held by OMV NZ Ltd (Operator, 36%), PTTEP NZ Ltd (36%) and Mitsui E & P Australia Pty Ltd (28%).

ENDS

Background information:

OMV in New Zealand

OMV New Zealand is the country’s largest liquid hydrocarbon producer, the third largest gas producer, and a major explorer in offshore Taranaki and the Great South Basin off the coast of the South Island.

It has been active here since 1999 when it acquired shares in the Maari oil discovery which it developed and now operates. Focusing strictly on exploration and production in New Zealand, OMV New Zealand currently holds shares in the Maui and Pohokura gas fields and the Maui pipeline. In addition, OMV New Zealand also has a number of offshore exploration permits in the Taranaki and Great South Basin regions.

OMV New Zealand is a subsidiary of OMV Aktiengesellschaft, also known as the OMV Group.

OMV Aktiengesellschaft

With Group sales of EUR 23.32 bn and a workforce of 31,398 employees in 2010, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. As the leading energy Group in the European growth belt, OMV is active in Refining & Marketing (R&M) in 13 countries. In Exploration & Production (E&P) OMV holds a balanced international E&P portfolio. In Gas & Power (G&P), OMV sells approximately 18 bcm gas per year. Through its 2,000 km long gas pipeline network in Austria, G&P transports approximately 89 bcm gas annually. OMV’s Central European Gas Hub has around 34 bcm annual trading volume and is one of the most important gas hubs in Continental Europe.

OMV is the leading energy Group in the European growth belt with oil and gas reserves of approximately 1.15 bn boe, daily production of around 318,000 boe in 2010 and an annual refining capacity of approximately 26 mn t. The Group further strengthened its leading position in the European growth belt through the acquisition of a majority stake in Petrol Ofisi, Turkey’s leading company in the retail and commercial business. OMV now has approximately 4,800 filling stations including Petrol Ofisi. The market share of the group in the R&M business segment in the Danube Region is approximately 20%.

Under its 3plus strategy, OMV combines the strengths of its E&P, G&P and R&M business units in order to ensure that it provides the best possible supply service to its three core markets of Central and Eastern Europe, Southeast Europe and Turkey. OMV uses the synergies that result from the combination of these strengths to extend its supply chain from oil and gas through to electricity and eventually renewable energy.

Sustainability

OMV is a signatory to the UN Global Compact, and an active supporter to the values enshrined in its Code of Conduct. These include a strong sense of responsibility towards the social and natural environment, especially in economically weak regions. OMV continuously addresses economic, environmental and social issues related to its business in a responsible manner. The Company reports on its activities in a sustainability report in accordance with the Global Reporting Initiative Guidelines. This report is published at the same time as the annual report.

ENDS

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