EANS-News: OMV Aktiengesellschaft / OMV closes acquisition of Pioneer´s subsidiaries in Tunisia

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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Wien (euro adhoc) - * Share purchase of Tunisian exploration and production
(E&P) business of Pioneer Natural Resources successfully completed as of
February 18, 2011
* OMV paid USD 800 mn plus USD 39.3 mn working capital
* Pre-emption right for Anaguid exploration permit and Mona/Durra production
concession not exercised by the joint venture partner
* Acquisition in line with corporate strategy to pursue bolt-on acquisitions in
E&P to enable further growth
* OMV remains committed to maintaining a strong investment grade credit rating

Today, OMV, the leading energy Group in the European growth belt, through its
fully owned subsidiary OMV (Tunesien) Production GmbH, completed the acquisition
of 100% of the entire issued share capital of Pioneer Natural Resources Tunisia
Ltd. and Pioneer Natural Resources Anaguid Ltd. (together "Pioneer Tunisia")
from Pioneer Natural Resources, an independent US oil and gas company. The
transaction was aligned with the Tunisian government.

OMV has paid USD 800 mn as purchase price plus USD 39.3 mn as working capital
which has been adjusted for USD 37.0 mn of dividends distributed to, and USD
10.6 mn of capital contributions made by the seller between signing and closing.
The working capital amount will be finally adjusted based on the 2010 audited
financial statements, which are expected in Q1/11.

The pre-emption right regarding the Anaguid interest has not been exercised by
the joint venture partner. OMV therefore also acquired the rights in the Anaguid
exploration permit and the Mona/Durra production concession.

From a strategic point of view, the acquired acreage offers considerable
exploration upside and complements OMV´s existing south Tunisian assets, Jenein
Sud and Nawara, very well. With closing of the transaction, OMV doubles its
daily production in Tunisia, totalling above 10,000 boe and will benefit from
immediate realization of operational synergies. Both OMV's and Pioneer Tunisia's
operations were maintained throughout the recent weeks and their staff were
actively pursuing transition activities. This acquisition underlines OMV's view
on the potential in the South and our long-term commitment to the country.

The transaction consideration has been funded with existing cash and committed
credit lines. OMV remains committed to strict capital discipline and retains the
clear objective of maintaining a strong investment grade credit rating.

Further inquiry note:
OMV
Investor Relations:
Angelika Altendorfer-Zwerenz
Tel. +43 1 40 440-21600
e-mail: [email protected]

Media Relations:
Michaela Huber
Tel. +43 1 40 440-21661
e-mail: [email protected]

Internet Homepage: http://www.omv.com
end of announcement euro adhoc
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company: OMV Aktiengesellschaft
Trabrennstraße 6-8
A-1020 Wien
phone: +43 1 40440/21600
FAX: +43 1 40440/621600
mail: [email protected]
WWW: http://www.omv.com
sector: Oil & Gas - Downstream activities
ISIN: AT0000743059
indexes: ATX Prime, ATX
stockmarkets: official market: Wien
language: English

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