OMV

= Global Snapshot =

OMV is one of Austria's largest listed industrial companies. Headquartered in Vienna, Austria, it operates in three segments: Exploration and Production (E&P), Refining and Marketing (R&M), and Gas and Power (G&P). The E&P segment engages in the exploration, development and production of oil and gas resources primarily in Romania and Austria, North Africa, the Middle East and the Caspian region. The R&M segment operates the refineries that process oil and gas into petroleum products in Schwechat, Austria; Burghausen, Germany; and Petrobrazi and Arpechim, Romania.

Among the acquisitions made by OMV during the 2000s were the acquisition of 25.1% of the Rompetrol Group in 2002 (sold in 2005), the acquisition of a 51 percent stake in the Romanian oil and gas group Petrom in 2004, an 100 percent stake in Borealis, and a 34 percent stake in Turkish oil and gas group Petrol Ofisi. In 2008, an attempted hostile takeover of Hungarian oil and gas company MOL by OMV was thwarted and the merger notification withdrawn after the European Commission said it would not accept conditions for the deal proposed by OMV. In 2009, OMV went on to sell its remaining stake in MOL to Russian oil producer Surgutneftegaz.

During the course of 2010, OMV strengthened its position by increasing its stake in Turkish Petrol Ofisi to 97%. This acquisition is a step in OMV's growth strategy aimed as positioning Turkey as a third hub, besides Austria and Romania. From the company's perspective, Turkey is of strategic importance as it gives access to the resource-rich Caspian basin and Middle East. Additionally, OMV were driving the Nabucco gas pipeline project, aimed to increase Europe's security of supply.

In 2011 OMV's oil and gas production stood at 288,000 barrels of oil equivalent (boe) per day, with an oil/gas mix of roughly 50/50. Proven reserves were around 1.13 billion boe at year-end. A significant part of production comes from the core countries Romania (about 60%) and Austria (about 13%), with the remainder coming from the international portfolio.

Company Report Highlights
OMV's Annual report for 2010 reveals that net income in 2010 rose by 61% to €921 million compared to 2009 levels. The company's gearing ratio rose to 46% due to the acquisition of Petrol Ofisi. In Exploration and Production, OMV's proven reserves fell in 2010 by 2.9% to 1153 million boe.

Strategically, OMV claims it is playing an active role in shaping the energy industries of the European growth belt, and that one of their growth thrusts is a regional focus on the South East European and Turkish regions. A major initiative of 2010 was the connection of the Caspian Region and Middle East with Europe and the interlink of OMV markets with the Nabucco pipeline achievement.

OMV's interim financial statements for the Second Quarter of 2011 demonstrate that political turmoil in North Africa and the Middle East adversely impacted results. Clean CCS EBIT (Earnings Before Interest and Tax) decreased by 25% to €468 million, burdened by the loss of production in Libya and Yemen, high exploration expenses and lower refining margins.

=Official Accreditations and Global Perceptions=

= Transparency =

EITI Supporter Status
OMV is not a supporter company of the EITI. However, the company states on its website that in the interests of transparency they decide on a country by country basis as to whether they participate in the EITI, based on whether the host government is a member of EITI and fully supports the initative; whether OMV behaviour is in compliance with national legislation; and whether this form of transparency applies to all active oil and gas companies in the country concerned.

UN Global Compact
OMV has been a participant in the UN Global Compact since 2003.

CSR Review
OMV's Sustainability Review for 2010 highlights the following achievements:


 * The company was placed first among 27 international listed oil and gas companies in a rating of social and environmental responsibility.
 * From 2010 onwards, a percentage of the non-result related variable compensation (bonuses) was to be be awarded for achieving sustainability targets.
 * Over 228,000 hours of Health, Safety, Security and Environment (HSSE) training were held (2009:188,000), more than two-thirds of them in Romania.
 * In 2010, OMV faced one blowout of a well in Romania. There were no injuries and no risk to neighbours because of this incident.
 * The Group recorded a total of eight significant hydrocarbon spills (>1,000 liters) and 2,239 minor releases during the year (2009: 21 and 2,650 respectively).
 * The Group’s carbon strategy, launched in 2008,aims at reducing greenhouse gas emissions and de-carbonizing of the product portfolio. According to the annual progress evaluation, OMV is well on track.

External Coverage

 * When OMV went sold its remaining stake in MOL in 2009 to Russian oil producer Surgutneftegaz the move attracted criticism from some MOL representatives, due to suspicions that OMV had been little more than a front for the Russian group after the 21% stake was bought at twice MOL's trading price on the Budapest bourse on the previous Friday.

= Global Operations by Country=

Libya
"Main article: OMV Operations in Libya"

Iran
"Main article: OMV Operations in Iran"

Syria
"Main article: OMV Operations in Syria"

=References=