OMV Makes Second Discovery in Tunisia

OMV reports a discovery and successful testing of oil and gas in its Nawara 1 exploration well in the Jenein Sud Exploration Permit in Southern Tunisia. This is the second discovery in the Permit within a year and shows the high potential of this block, which is operated by OMV (Tunesien) Exploration GmbH, a 100% subsidiary of OMV. The exploration well reached a total depth of 3,970 meter on June 4, 2006 and encountered a total of 25 meter net oil and gas/condensate pay in several layers at depths of 3,600 to 3,900 meter. Further appraisal developments of the area include the acquisition of 3D seismic and drilling of additional wells.

Helmut Langanger, OMV Executive Board member responsible for Exploration and Production stated: "I am delighted with this second consecutive discovery in our Jenein Sud Exploration Block which is one of our core regions. It confirms the potential of this block and reinforces our plans for further growth in Tunisia."

The combined flow rate of all layers tested by the Nawara 1 well amounts to 5,970 bbl/d of oil and 58 mn scf/d of gas. The drilling rig has moved off and preparations for further production testing are under way. Acquisition of 3D seismic is expected to start in August this year, and further Drilling will commence early next year. OMV and the Tunisian national oil company ETAP each hold 50% in the Jenein Sud Exploration Permit. The area covers 1,992 km², 700 km south of the Tunisian capital Tunis.

On 29 March this year, OMV announced its first discovery in the Jenein Sud Permit with well Warda 1 producing 1,500 bbl/d of oil and 1,625 boe/d of gas on test.

OMV first became active in Tunisia in the early 1970s. Membership of the group that discovered Halk el Menzel was OMV's first ever foreign joint venture. The Preussag acquisition in 2003 gave 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 9,000 boe per day. OMV's current exploration acreage is in the operated Jenein Sud block in the Southern tip of Tunisia.