OMV, the strongest energy group in the European growth belt, announced today that its 100% subsidiary OMV (U.K.) Limited has discovered gas and oil in the Tornado well in the UK West of Shetlands sector.

The discovery well 204/13-1 and sidetrack -1z were drilled in a water depth of 1,048 meters using the Stena Carron drillship and are OMV (U.K.)’s first operated exploration wells in deepwater West of Shetlands. Further appraisal drilling is required before making a development decision.

The initial well, was spudded on 26 September 2009 and, following discovery of hydrocarbons, the sidetrack well was started on 17 October and reached a total depth of 2,638 m. An extensive set of data has been collected in order to allow early determination of the commercial viability of the discovery. Operations were completed on November 1st with an excellent safety record.

Helmut Langanger, OMV Executive Board member responsible for Exploration and Production stated: “We are very pleased that our first deepwater exploration well in the UK has resulted in a discovery and also that the Stena Carron operation has been conducted safely and efficiently. This proves that OMV can perform exploration operations also in challenging offshore areas.”

OMV has developed its operating capabilities in the UK substantially over the last two years and is now looking forward to developing these further as the results of the Tornado wells are evaluated and preparations for appraisal and a subsequent development decision are made.

This exploration success comes as the culmination of substantial commitment to exploration and appraisal drilling by OMV over the last two years in its Atlantic Margin core area, including appraisal wells on the Rosebank and Cambo discoveries, in which OMV has non-operated interests. Both projects are seen as good candidates for development.

Balanced International E&P portfolio
OMV holds a balanced international E&P portfolio in 17 countries structured around six core regions, namely CEE, North Africa, Northwestern Europe, the Middle East, Australia/New Zealand and the Russia/Caspian region. OMV's daily production is approximately 317,000 boe/d and the Company’s proven reserves at the end of 2008 were approximately 1.21 bn boe.

Consortium partners:
Block P.1190 (Block 204/13):
OMV (U.K.) Limited (Operator): 30%
Dana Petroleum E&P Limited: 30%
DONG E&P UK Limited: 20%
Faroe Petroleum (U.K.) Limited: 10%
Idemitsu E&P Shetland Ltd: 10%

Block P.1190 (Block 204/13):
OMV (U.K.) Limited (Operator): 50%
Dana Petroleum E&P Limited: 30%
DONG E&P UK Limited: 20%

OMV (U.K.) Limited is a wholly owned subsidiary of OMV Aktiengesellschaft, established in 1987 and headquartered in London and has been an active investor in the UK offshore for over 20 years. OMV (U.K.)

Limited currently holds equity in 34 licences covering 58 blocks in the UKCS, of which 5 licences are operated by OMV. In 2008, the company produced 7,800 barrels of oil equivalent per day in the UK. OMV participated in 15 exploration and appraisal wells in the UKCS in 2008-09, and is involved in a number of important potential field developments in the Atlantic Margin and Central North Sea, including Rosebank, Cambo and Jackdaw.

With Group sales of EUR 25.54 bn and a workforce of 41,282 employees in 2008, 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 and Marketing (R&M) in 13 countries. In Exploration and Production (E&P) OMV is active in 17 countries on four continents.

In Gas & Power (G&P) OMV sells approximately 13 bcm gas per year. Via Baumgarten, one of the most important turntables for gas in Europe, approximately 66 bcm gas is transported annually. OMV’s Central European Gas Hub is amongst the three largest hubs in Continental Europe.

OMV is the leading energy group in the European growth belt with oil and gas reserves of approximately. 1.2 bn boe, daily production of around 311,000 boe and an annual refining capacity of approximately 26 mn t.

OMV now has 2,483 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 41.58% of Petrol Ofisi, 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 mn to initiate the change from a pure oil and gas group to an energy group with renewable energy in its portfolio.