OMV Makes Discovery in Tunisia

OMV has made an oil and gas discovery in Tunisia. The first exploration well (Warda 1) in block Jenein Sud covering 1,992 square kilometers, 700 km south of the Tunisian capital Tunis, successfully tested gas and oil. The well, operated by OMV (Tunesien) Exploration GmbH was spudded on December 27, 2005 and encountered several oil and gas bearing zones.

During initial testing the well produced gas at a stable rate of 1,625 boe/d and 1,500 bbl/d of 54 degrees API oil. The well has been completed and suspended for further evaluation. The rig will move shortly to drill a second exploration well in the Jenein Sud concession. OMV and the Tunisian national oil company ETAP hold each 50% in the Jenein Sud concession.

Helmut Langanger, OMV Executive Board member responsible for Exploration and Production stated: "Our Warda 1 discovery in the Jenein Sud concession is a success and an important step towards further growing our business in Tunisia, an important part of our North African E&P core region. OMV plans to further advance exploration in this country. Already now, OMV has a daily production of 8,000 boe in Tunesia.”

OMV first became active in Tunesia in the early 1970s. Membership in the group that discovered Halk el Menzel was OMV’s first ever foreign joint venture. The Preussag acquisition brought OMV’s return to Tunisia by giving OMV control of seven producing oil fields in the southeast of the country. The most prolific of these is the Ashtart field. OMV’s current production is approximately 8,000 boe per day. OMV’s current exploration acreage is in the operated Jenein Sud block in the Southern tip of Tunisia.