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OMV Aktiengesellschaft

euro adhoc: OMV Aktiengesellschaft
Joint Ventures
OMV and YUKOS signed Memorandum on crude deliveries via new pipeline (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
OMV und YUKOS have announced today that they signed a Memorandum of
Understanding on the supply of up to 5 million tons (mn t) of crude
oil per annum to the Schwechat refinery of OMV by a pipeline, which
is to be constructed from Bratislava in the Slovak Republic to
Schwechat in Austria.  The estimated investments for the project
amount to EUR 28 mn.
"This memorandum represents a new step on our way of developing the
long-term mutually beneficial relationship with OMV", said the acting
member of the YUKOS management committee Mikhail Brudno.  "When
implemented, this large-scale project will enable our partners to
significantly diversify crude shipments, and will allow YUKOS to
increase export deliveries to the promising European market."
OMV CEO Wolfgang Ruttenstorfer: "For OMV this memorandum is of high
strategic value as it clearly supports our organic growth strategy." 
OMV wants to double its 2001 market position by 2008 in both Refining
and Marketing and Exploration and Production.
Gerhard Roiss, deputy chairman of OMV’s executive board: "The
cooperation will bring OMV cost advantages on both the product and
logistics side".  The transportation volume is set, on preliminary
basis and with an option to be increased, at the level of 2 mn t of
crude oil per year, which corresponds to some 20% of the processing
capacity of the Schwechat refinery.  The capacity of the pipeline is
expected to amount to approximately 3.6 mn t per year, expandable to
some 5 mn t per year through addition of pumping facilities.
The length of the future pipeline will be approximately 60
kilometers, of which 50 kilometers will pass through Austrian
territory.  The pipeline is planned to be commissioned by the end of
2005 with crude oil shipments beginning in January 2006 for the
initial period of 10 years.  The crude oil pricing is planned to be
in line with that under crude supply contracts concluded by YUKOS
with other refineries in the region.
Notes to editors:
YUKOS Oil Company is the largest fully privatized Russian vertically
integrated oil company.  Information about YUKOS is available on the
websites www.yukos.ru (in Russian) and www.yukos.com (in English).
OMV Aktiengesellschaft, with Group sales of EUR 7.08 billion and
5,828 employees in 2002, and a current market capitalization of EUR
2.8 billion, is Austria’s largest listed industrial company.  As the
leading oil and gas group in Central and Eastern Europe, OMV is
active in 12 CEE countries in Refining and Marketing (R&M).  OMV has
set a goal of doubling its 2001 market position to 20% by 2008.  OMV
has international Exploration and Production activities (E&P) in 17
countries.  The Group also operates integrated chemical manufacturing
plants. In addition, it holds a 25% stake in Borealis A/S, one of the
world’s leading manufacturers of polyolefins, and a 45% stake in the
BAYERNOIL refinery network, a stake of approximately 9% in the
Hungarian petroleum company MOL, and a 25.1% stake in The Rompetrol
Group NV, the largest private oil company in Romania.
end of announcement        euro adhoc 13.08.2003

Further inquiry note:

OMV
Investor Relations:
Brigitte H. Juen
Tel. +43 1 404 40-21622; e-mail: investor.relations@omv.com
Presse/Press:
Bernhard Hudik
Tel. +43 1 404 40-21660; e-mail: bernhard.hudik@omv.com

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

Branche: Oil & Gas - Downstream activities
ISIN: AT0000743059
WKN: 074305
Index: ATX, ATX Prime
Börsen: Bayerische Börse / official dealing
Frankfurter Wertpapierbörse / official dealing
Wiener Börse AG / official dealing
London Stock Exchange / official dealing

Original-Content von: OMV Aktiengesellschaft, übermittelt durch news aktuell

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