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

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Mergers - Acquisitions - Takeovers/OMV / Oil / Gas / Austria

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.

end of announcement euro adhoc
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ots Originaltext: OMV Aktiengesellschaft
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

OMV
Investor Relations:
Angelika Altendorfer-Zwerenz
Tel. +43 1 40 440-21600
e-mail: investor.relations@omv.com

Media Relations:
Michaela Huber
Tel. +43 1 40 440-21661
e-mail: michaela.huber@omv.com

Internet Homepage: http://www.omv.com

Branche: Oil & Gas - Downstream activities
ISIN: AT0000743059
WKN: 874341
Index: ATX Prime, ATX
Börsen: Wien / official market