OMV Acheives First Gas from Latif Field in Pakistan

OMV, the leading energy group in the European growth belt, has announced along with its joint venture partners ENI and PPL the start of the extended well test of Latif-1 located in the Latif Block, about 100 kilometers from Sukkur in southern Pakistan's province of Sindh. OMV's current production in Pakistan amounts to approximately 17,000 boe/d.

Helmut Langanger, OMV Executive Board member responsible for Exploration and Production stated: "Our investments in international exploration and production projects have once more strengthened OMV's position as a reliable partner for energy supply. Furthermore, this success with Latif-1, contributes to the gas supply in Pakistan as well as to OMV's position within the Middle East core region."

As part of the fast track development, the gas is routed via a 23-kilometer-long pipeline to the Kadanwari gas plant which is operated by OMV Pakistan and has sufficient gas processing capacity left for this additional gas. The local utility company SSGCL as a gas buyer will distribute the additional gas from Latif to the southern Sindh province.

During the first three quarters of 2009 the testing gas rate from Latif-1 will be around 1,000 boe/d whereas in the fourth quarter 2009 additional gas from the second well Latif-2 will be available starting with approximately 4,000 boe/d. After the testing phase a field development plan will be submitted to the government of Pakistan for approval and will, after execution, further increase Latif gas production from 2011 onwards.

The new Latif gas reserves are the result of continuous successful exploration efforts of OMV together with its JV partners in Pakistan to enhance domestic gas production in Pakistan.

Serving as the operator with 33.4% interest, OMV partners on the project with ENI (33.3%) and PPL (33.3%).