OMV Increases its Interest in Tunisia

04-28-2008

OMV Aktiengesellschaft, the leading oil and gas group in Central Europe, strengthens its E&P position in its North Africa core region by acquiring an 80% interest as operator in the "Sidi Mansour" exploration license in offshore Tunisia from Thani Tunisia Sidi Mansour B.V.. The block covers an area of 6,592 km² and is located approximately 30 km north of the producing oilfield Ashtart in which OMV holds an interest. The assignment is subject to approval by ETAP, the Tunisian national oil company, and the Tunisian authorities. The expansion of OMV´s activities in the core region North Africa is in line with the growth strategy in E&P business.

Helmut Langanger, OMV Executive Board Member responsible for Exploration and Production stated: "By acquiring high-quality exploration areas we will strengthen our position as operator in Tunisia where we want to grow onshore as well as offshore."

The license encompasses an area of 6,592 km2 with water depths ranging from 0 to 60 meters. It is located in the Gulf of Gabes, approximately 30 km north of the oilfield Ashtart and is in the immediate vicinity of the producing oilfield Cercina , in both of which OMV holds interests. OMV, together with ETAP, also holds a 50% interest in the exploration permit Jenein Sud in Southern Tunisia containing the two discoveries Warda and Nawara.

Work on the awarded block will commence in 2008 with the acquisition of 500 km of 2D seismic.

OMV first became active in Tunisia in the early 1970s. OMV's acquisition of the E&P-assets of Preussag in 2003 gave OMV access to seven producing oil fields in the southeast of the country. The most prolific of these is the field Ashtart. OMV in Tunisia has currently interests in two exploration and five production licenses. It's current production in Tunisia amounts to approximately 9,000 boe per day. In addition OMV operates the Jenein Sud exploration block which is situated in the Tunisian extension of the Ghadames basin.