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euro adhoc: OMV Aktiengesellschaft
Strategic management decisions
OMV sets new targets for further growth to 2010

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
12.10.2005
- Production target of 500,000 boe/d until 2010 - Further expansion
of Refining and Marketing business in EU accession area - Expand gas
marketing activities to 20 bcm of gas until 2010
OMV Aktiengesellschaft, Central Europe’s leading oil and gas group,
sets new targets for the company growth until 2010. After achieving
its 2008 goals ahead of schedule, the company now aims for a
production volume of 500,000 boe per day by 2010 and for further
expansion of its Refining and Marketing business in the EU accession
area. In addition, OMV will run an international gas business
marketing 20 bcm of gas by 2010. OMV’s CEO Wolfgang Ruttenstorfer
stated: "Our successful expansion has enabled us to achieve the
growth targets set for 2008 way ahead of schedule. OMV has resumed
the leadership position in Central Europe and we are committed to
further growth in the next five years. OMV until 2010 will be the
most successful company in capitalizing on the EU ‘growth belt’ in
oil and gas and securing the future supply through a strong upstream
position."
Best integrated midsize oil and gas company OMV aims to be the best
integrated midsize oil and gas company producing a quantity of oil
and gas of 50% of its refinery capacity. In the gas business, OMV
will produce more than one third of the gas volume sold by the
company. In addition the company will keep secured access to
petrochemical outlets and hold significant minority interest in
international chemical business (Polyolefins, Melamine) with
operations in Europe and Middle East, based on proprietary
technology.
Refining and Marketing  In Refining and Marketing OMV will optimize
its existing performance in the Danube home market with a daily
refining capacity of 500,000 bbl/d. The Group will expand on its
position as the leading supplier of refinery products in Central and
Eastern Europe, building on two hubs - a Western hub with Schwechat,
Burghausen and Bayernoil with an annual refining capacity of 18.4 mn
t and an Eastern hub with Petrobrazi and Arpechim, with an annual
refining capacity of 8 mn t. Significant investments will ensure that
OMV refineries align to future market requirements, focusing
especially on middle distillates. OMV will in addition realize
opportunities in the EU accession area to acquire additional R&M
opportunities with a refining capacity of up to 500,000 bbl/d.
Moreover, OMV intends to strengthen its competitive position in
petrochemicals.
In the retail business, OMV aims to lead the Danube region as the
premium brand, leading in quality and further expanding its
convenience business. OMV plans to increase its current market share
of 18% to 20%. Half of the filling stations will be equipped with
VIVA shops (2004: 32%). In addition OMV will raise the throughput of
the filling stations from 2.6 mn litres per site in 2004 to 3 mn
litres per site by 2010.
Exploration and Production - becoming a significant upstream player
By 2010, OMV’s Exploration and Production business will produce
500,000 boe/d in six core regions. A focus will be added on Russia in
addition to the Danube and Adriatic, Northern Africa, the North Sea,
the Middle East/Caspian and Australia/New Zealand as a new core
region for OMV’s E&P activities. OMV will target significant
production growth in international business outside Austria and
Romania, aiming at a reserve replacement ratio of 160%. Helmut
Langanger, OMV Board member responsible for Exploration and
Production said: "We set an ambitious target that will lead OMV into
the upper third of the 2nd tier of international producers of oil and
gas. The basis remains a stable production volume from Austria and
Romania. We expect significant growth in North Africa, Middle East
and Caspian and in the North Sea / Atlantic Margin, a material entry
position in Russia and a valuable contribution from our New Zealand
projects."
Gas - international gas business up and running by 2010 OMV is set to
meet the challenges of a growing gas market and intends to make full
use of the rising gas demand in Central and Eastern Europe. OMV will
therefore build upon an international gas business and expand its gas
marketing volumes to 20 bcm per year. OMV will also realize
opportunities to further diversify its gas supply. OMV will focus on
the realization of the Nabucco project to deliver gas to its
Baumgarten hub and further to Western Europe. Moreover, OMV will
develop LNG projects in order to market gas in the Adriatic sales
regions. OMV intends to undertake a feasibility study for an LNG
Terminal in the Adriatic region with one or more international
experienced partners.
Petrom with new targets for 2010 Petrom, South Eastern Europe’s
leading producer of oil and gas, also sets new targets for the
company’s growth to 2010. Petrom aims for a stable oil and gas
production volume of 210,000 boe per day in Romania until 2010. In
addition, the Caspian region should be developed into a core region,
the reserve replacement ratio should rise to 70% by 2010.  The
company plans to raise its refinery utilization to 95% (2004: 75%) by
2010 and will comply with EU product quality by the end of 2007. In
addition, more than 250 new standard PetromV filling stations will be
built by 2010. Moreover, the company will achieve more than 30%
market coverage (2004: 26%). In the Gas business, Petrom will
increase its gas marketing volume to over 7 bcm in Romania with a
market share of more than 35%.
end of announcement                               euro adhoc 12.10.2005 08:00:00

Further inquiry note:

OMV
Investor Relations:
Ana-Barbara Kuncic
Tel. +43 1 40 440-21443; e-mail: investor.relations@omv.com
Press:
Bettina Gneisz-Al-Ani
Tel. +43 1 40 440-21660; e-mail: bettina.gneisz@omv.com
Thomas Huemer
Tel. +43 1 40 440-21660; e-mail: thomas.huemer@omv.com

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

Branche: Oil & Gas - Downstream activities
ISIN: AT0000743059
WKN:
Index: ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing

Original content of: OMV Aktiengesellschaft, transmitted by news aktuell

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