OMV about to commence Great South Basin 3D seismic survey

Media statement
OMV about to commence Great South Basin 3D seismic survey

_ Polarcus Alima state of the art seismic vessel

_ Environmental monitoring exceeds requirements

OMV New Zealand and its joint venture partners are delighted to announce that a significant 3D seismic acquisition programme is about to get underway in Great South Basin exploration permits 50119 and 50120.

“This is a significant step in the exploration of this frontier basin. We have invested over NZ$50 million to date and allocated significant resources to studying the Great South Basin over the last four years,” said OMV New Zealand Managing Director Peter Zeilinger.

“OMV has already undertaken two surveys in the Great South Basin and acquired more than 19000 km of 2D lines. This has allowed us to focus on the most prospective area to undertake the first 3 D survey in these permits”, Mr Zeilinger said.

“This survey does not necessarily mean that drilling is imminent. It will take until the end of 2013 to process and evaluate the seismic data before drilling can even be considered, but we remain hopeful of a positive result.” The joint venture’s permit commitments state that a minimum of 2,250 square kilometres of 3D seismic data must be acquired by 10th July 2012. “The Polarcus Alima, the vessel contracted to do this work, is a state of the art ship, built to the highest safety and environmental standards”, Mr Zeilinger said. “The joint venture hopes to acquire more than 4,000 square kilometres of 3D seismic data in the permits, although the final amount will depend on weather conditions that we encounter in coming weeks.”

“The Polarcus Alima will also carry a team of five marine mammal observers during this survey, four more than required by the Department of Conservation. This team is there to look and listen out for whales, dolphins and any other marine mammals. They work independently from OMV and the survey crew, and will shut down the survey whenever marine mammals enter safety distances defined by the NZ Department of Conservation.”

The Polarcus Alima will leave Wellington on Sunday morning (11/12) and is due in the permit area two days later. The ultra-modern ICE-1A class vessel made international shipping news on its journey to New Zealand by being the first seismic vessel to successfully transit the arctic Northern Sea Route. This 5,500 kilometre journey took the Polarcus Alima almost across the top of the world from Norway’s Barents Sea to Cape Dezhnev in the Bering Straits via the northern coast of Russia.

Permit holders are OMV NZ Ltd (Operator for the seismic programme, 18%), PTTEP NZ Ltd (18%), Mitsui E&P Australia Pty Ltd (14%) and Shell GSB Ltd (50%). Shell joined the joint venture in August 2011, and will take over as operator of the permits at the conclusion of the 3D seismic programme.

Ends

9 December 2011
OMV New Zealand
OMV | 2
Exploration & Production

3 I OMV Exploration & Production, C.Streichsbier, September 1, 2011

New Zealand - South Isl., OMV Concession Areas

Polarcus Alima

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.

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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