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 14.12.2016

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:
OMV
Investor Relations:
Magdalena Moll
Tel. +43 1 40 440-21600
e-mail: investor.relations@omv.com

Public Relations:
Robert Lechner
Tel. +43 1 40 440-21472
e-mail: public.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

Original-Content von: OMV Aktiengesellschaft, übermittelt durch news aktuell