October 4, 2010 - 11:00 am (CET)
- Two new gas-condensate discoveries in the OMV operated Nawara Concession
- Proves additional resources for the Nawara Development Project
- Increased likelihood of additional discoveries nearby
OMV, the leading energy Group in the European growth belt, again discovered gas-condensate at the exploration wells Khouloud-1 and Benefsej-1 within the Nawara Production Concession located in southern Tunisia. These two additional discoveries are both commercially and strategically important, as they complete the previous success of the OMV drilling campaign with now nine discoveries in a row. The chance of making further commercially viable discoveries in the concession and the surrounding Jenein Sud exploration permit has therefore greatly increased.
OMV and its partner ETAP, the Tunisian national oil company, have recently completed drilling activities at the Khouloud-1 and Benefsej-1 exploration wells in the Nawara Production Concession in southern Tunisia. This marks the successful completion of the 2009/2010 five well drilling campaign which aimed at proving the required resources for the Nawara Development Project.
Khouloud-1 reached a total depth of 4,042 m, and Benefsej-1, the best well to date in the concession, was drilled down to 4,223 m. Both wells have discovered a combined total of over 60 m of net gas-condensate pay in the stacked sandstones of the Acacus and Tannezuft formations. Good quality sandstone reservoirs are now proven across the entire Nawara concession and this is encouraging for undrilled features. Gas-condensate was confirmed by an extensive and successful downhole measurement and sampling program. The wells have been cased and suspended for future testing and production.
Jaap Huijskes, member of the OMV Executive Board responsible for E&P stated: ”We have completed a very successful exploration drilling campaign with nine discoveries in a row. We are confidently working towards commercial development of these discoveries together with our partner ETAP.”
OMV and the Tunisian national oil company ETAP each hold a 50% interest in the Nawara Production Concession, 700 km south of the Tunisian capital Tunis. Studies are under way with respect to a possible development of the discoveries and the transportation of the gas to the Tunisian market.
Balanced International E&P portfolio
OMV holds a balanced international E&P portfolio in 16 countries structured around six core regions, namely CEE, North Africa, Northwestern Europe, the Middle East, Australia/New Zealand and the Caspian region. OMV's daily production is approximately 318,000 boe/d and the Company’s proven reserves at the end of 2009 were approximately 1.19 bn boe.
OMV in Tunisia
OMV first became active in Tunisia in the early 1970s. The acquisition of the international E&P activities of Preussag in 2003 gave OMV access to seven producing oil fields in the southeast of the country. The most prolific of these is the Ashtart field. OMV currently has interests in two exploration and six production licenses in Tunisia. Its production in Tunisia amounted to approximately 7,000 boe/d in 2009. OMV operates the Jenein Sud exploration block which is situated in the Tunisian extension of the Ghadames basin. In April 2008, OMV acquired an 80% operated share in the Sidi Mansour exploration area.
With Group sales of EUR 17.92 bn and a workforce of 34,676 employees in 2009, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. As the leading energy Group in the European growth belt, OMV is active in Refining & Marketing (R&M) in 12 countries. In Exploration & Production (E&P) OMV is active in 16 countries on four continents. In Gas & Power (G&P) OMV sells approximately 13 bcm gas per year. Through its 2,000 km long gas pipeline network in Austria G&P transports approximately 75 bcm gas annually. OMV’s Central European Gas Hub is with around 23 bcm annual trading volume one of the most important gas hubs in Continental Europe.
OMV is the leading energy Group in the European growth belt with oil and gas reserves of approximately 1.19 bn boe, daily production of around 318,000 boe in Q2/10 and an annual refining capacity of approximately 26 mn t. OMV now has 2,319 filling stations as of Q2/10. The market share of the group in the R&M business segment in the Danube Region is now 20%.
OMV further strengthened its leading position in the European growth belt through the acquisition of 41.58% of Petrol Ofisi, Turkey’s leading company in the retail and commercial business.
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. This report is published at the same time as the annual report.