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• Successful exploration well Ahlem-1 in the Jenein Sud exploration permit


• Promising cumulative flow rate of the tested formations amounts to 3,500 bbl/d of condensate and 120 mn cf/d (20,000 boe/d) of gas


• Plans for drilling of further wells and additional 3D seismic acquisition

OMV Aktiengesellschaft, the leading oil and gas group in Central Europe, announces the discovery and successful testing of condensate and gas in its Ahlem-1 exploration well in the Jenein Sud exploration permit in Southern Tunisia. This is the third successful discovery in the permit within the last two years and highlights the potential of this block, which is operated by OMV (Tunesien) Exploration GmbH. The exploration well reached a total depth of 4,020 m and encountered a total of 36 m net gas and condensate pay in several layers at depths ranging from 3,700 m to 3,980 m. Further exploration and appraisal activities are planned in the area, including the acquisition of 3D seismic and drilling of additional wells.
 
Helmut Langanger, OMV Executive Board Member responsible for Exploration and Production stated:”I am delighted with this new discovery in our Jenein Sud exploration block as it confirms the potential of this block and reinforces our plans for further growth in Tunisia."
The cumulative flow rate of all layers tested by the Ahlem-1 well amounts to 3,500 bbl/d of condensate and 120 cf/d (20,000 boe/d) of gas.
Drilling of the next exploration well in the block is expected to commence in July. Acquisition of 600 km² of additional 3D seismic is also planned to start this month. OMV and the Tunisian national oil company ETAP each hold a 50% interest in the Jenein Sud exploration permit, which covers an area of 1,992 km², 700 km south of the Tunisian capital Tunis.
 
Balanced international E&P portfolio
OMV holds a balanced international E&P portfolio in 20 countries structured around six core regions, namely CEE, North Africa, Northwestern Europe, the Middle East, Australia/New Zealand and Russia/Caspian region. OMVCs daily production volume is approximately 321,000 boe/d, and the CompanyCs reserves at the end of 2007 were approximately 1.22 bn boe.

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