OMV Aktiengesellschaft

EANS-Adhoc: OMV Aktiengesellschaft
ExxonMobil/OMV Petrom: Deep water gas discovery offshore Romania


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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 
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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
 

 

 



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