OMV Aktiengesellschaft

EANS-Adhoc: OMV Aktiengesellschaft
OMV reached a binding "Basic Agreement" with Gazprom on the potential asset swap

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Mergers - Acquisitions - Takeovers/Company Information/Asset swap / Oil / Gas /
Austria / Russia / Norway

OMV reached a binding "Basic Agreement" with Gazprom for a potential asset swap
transaction. The execution of the Basic Agreement was approved in today's
meeting of the OMV Supervisory Board but is still subject to signing of the
Basic Agreement by the parties. The signing is expected to take place during the
course of today.

The swap transaction is envisaged to consist of an acquisition of a 24.98%
interest in the Achimov IV and V phase development in the Urengoy gas and
condensate field by OMV in exchange for a 38.5% participation of Gazprom in OMV
(NORGE) AS. The swap transaction is envisaged to be cash free except for
potential customary closing adjustment payments. The effective date of the
transaction is January 1, 2017. 

The Basic Agreement contains the key principles of, and the way forward with
respect to, the swap transaction. The execution and performance of the swap
transaction is subject to the agreement on the final transaction documents,
regulatory and further corporate approvals. The signing of the final transaction
documents is expected by mid of 2017.

The asset swap would grant OMV access to the Achimov IV/V reservoir in the
Urengoy field located in Western Siberia, Russia. The swap transaction would add
approximately 560 mn barrels of oil equivalent ("boe") to OMV's reserves
representing OMV's share of production until the end of contracts in 2039.
Production is expected to start up in 2019 and to reach a plateau of more than
80,000 boe/day in 2025 (OMV's share of production). OMV's share of total
investments is expected to amount to approximately EUR 0.9 bn from 2017 to 2039.

Gazprom, in return, would acquire a minority share (38.5%) in OMV's Norwegian
subsidiary OMV (NORGE) AS. The Norwegian portfolio consists of a total of 32
licenses of which 5 are operated by OMV. The production in the first 9 months of
2016 amounted to 67,000 boe/day. OMV will continue to fully consolidate the OMV
(NORGE) AS subsidiary and its reserves.

Further inquiry note:
Investor Relations:
Magdalena Moll
Tel. +43 1 40 440-21600

Public Relations:
Robert Lechner 
Tel. +43 1 40 440-21472
Internet Homepage:

end of announcement                               euro adhoc 

issuer:      OMV Aktiengesellschaft
             Trabrennstraße  6-8
             A-1020 Wien
phone:       +43 1 40440/21600
FAX:         +43 1 40440/621600
sector:      Oil & Gas - Downstream activities
ISIN:        AT0000743059
indexes:     ATX Prime, ATX
stockmarkets: official market: Wien 
language:   English

Weitere Meldungen: OMV Aktiengesellschaft

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