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OMV Update On GSB Drilling Programme

OMV NZ (on behalf of the Great South Basin Petroleum Exploration Permit Joint Venture) has completed the drilling of the Tawhaki-1 exploration well in the Great South Basin.

The Tawhaki-1 exploration well was safely completed this week and preliminary indications are that there has not been a commercial-scale discovery.

OMV will provide a further update on drilling results once analysis is complete.

The COSL Prospector drilling team is currently preparing to plug and abandon the well.

All statements can be attributed to OMV’s Senior Vice President, Australasia, Gabriel Selischi.

Background information:

OMV New Zealand

OMV New Zealand is an oil and gas explorer and producer that has operated in New Zealand for 20 years. It currently employs over 400 staff. Most are New Zealanders, and are largely based in Taranaki, where OMV runs the Māui and Pohokura gas fields and the Maari oilfield. The two gas fields contain about a third of the country’s gas reserves. OMV has made a major commitment to New Zealand, having invested over $3 billion dollars to date. It has also committed another $500 million to extend the life of the Māui and Pohokura gas fields, with projects already completed or underway.

OMV Aktiengesellschaft

OMV produces and markets oil and gas, innovative energy and high-end petrochemical solutions – in a responsible way. With Group sales of EUR 23 bn and a workforce of around 20,000 employees in 2019, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Upstream, OMV has a strong base in Central and Eastern Europe as well as a balanced international portfolio, with Middle East & Africa, the North Sea, Russia and Asia-Pacific as further core regions. Daily average production was 487,000 boe/d in 2019. In Downstream, OMV operates three refineries in Europe and owns a 15% share in ADNOC Refining and Trading JV, with a total annual processing capacity of 24.9 mn tons. Furthermore, OMV has a 36% participation in Borealis, one of the world’s leading producers of polyolefins. The Company operates about 2,100 filling stations in ten European countries. OMV runs gas storage facilities in Austria and Germany; its subsidiary Gas Connect Austria GmbH operates a gas pipeline network in Austria. In 2019, gas sales volumes amounted to around 137 TWh. Sustainability is an integral part of OMV’s corporate strategy. OMV supports the transition to a lower-carbon economy and has set measurable targets for reducing carbon intensity and introducing new energy and petrochemical solutions.

 

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