OMV Closes Sale of E&P Assets in Qatar

OMV has closed the sale of its 7.5% interests in block 12 and 13 in Qatar on March 8. The respective sales agreement was signed on August 22, 2005 with Marubeni Corporation of Japan. OMV's share of production was about 1,100 bbl/d (FY2004).The Partners had agreed not to disclose the sales price.

The Qatar assets had been acquired by OMV in 2003, as part of the acquisition of the international E&P portfolio of Preussag Energie International GmbH. They comprise non-operated working interests of 7.5% in the producing Block 12 Al Rayyan Field and in the exploration Block 13. Both blocks are located in shallow water offshore Qatar.