Great South Basin work commitment deferral requested

OMV New Zealand

Media statement

5 July 2011

Great South Basin work commitment deferral requested

• Request made for Great South Basin work commitments date to be deferred until 10 September, 2011

• Great South Basin work completion date of 10 July, 2012 unchanged

OMV New Zealand and its Joint Venture partners have announced that on Friday, 1 July, 2011 they applied to the Ministry of Economic Development to defer the commitment dates for their Great South Basin exploration permits 50119, 50120 and 50121 until 10 September, 2011.

Before the extension request, OMV NZ was required to commit to either the drilling of exploration wells or the acquisition of 3D seismic surveys by 10 July, 2011 with the work occurring within the next 12 months. The request to defer the commitment dates has no impact on the July 10, 2012 work completion date.

OMV has stated that they are committed to ongoing exploration of the Great South Basin and require additional time to refine the scope of work for the next phase.

Since the permits were awarded in 2007, 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. 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. In Exploration and Production, OMV is active in two core countries Romania and Austria and holds a balanced international portfolio. OMV had proven oil and gas reserves of approximately 1.15 bn boe as of year-end 2010 and a production of around 318,000 boe/d in 2010. In Gas and Power, OMV sold approximately 18 bcm of gas in 2010. In Refining and Marketing, OMV has an annual refining capacity of 25.8 mn t and as of year-end 2010 approximately 4,800 filling stations in 13 countries including Turkey. In Austria, OMV operates a 2,000 km long gas pipeline network with a marketed capacity of around 89 bcm in 2010. With a trading volume of around 34 bcm in 2010, OMV’s gas trading platform, the Central European Gas Hub, is amongst the most important hubs in Continental Europe. OMV further strengthened its position through the ownership of a 97% stake in Petrol Ofisi, Turkey’s leading company in the retail and commercial business.

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.

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