Key Developments: OMV AG (OMVV.VI)

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Latest Key Developments (Source: Significant Developments)

OMV AG says intends to issue hybrid notes this year
Tuesday, 11 Aug 2015 11:30am EDT 

OMV AG:Issue of hybrid notes should take place in two tranches and at least reach benchmark volume.Depending on consent of supervisory board and given market conditions, issue is intended to take place in 2015.Details of issue such as total nominal value, issue price and coupon will be determined in book building process.Proceeds from issue of hybrid notes shall be used for strengthening group's financial flexibility as well as for general corporate purposes.  Full Article

Gazprom, E.ON, Shell and OMV AG agree to develop gas transportation capacities for the deliveries of the Russian natural gas to Europe
Thursday, 18 Jun 2015 05:47am EDT 

OMV AG:During St. Petersburg International Economic Forum Gazprom OAO, E.ON SE, Royal Dutch Shell PLC, OMV AG, signed Memorandums of Understanding on cooperation in the project of construction of the gas transportation infrastructure for direct deliveries of Russian natural gas to European customers.The Memorandums reflect the parties' intentions to implement the project of construction of two gas pipelines through the Baltic Sea from Russia to Germany.The throughput capacity of the new gas pipeline will be 55 billion cubic meters per year.  Full Article

OMV says Rainer Seele to become CEO as of July 1
Friday, 27 Mar 2015 02:20pm EDT 

OMV AG:Rainer Seele to become OMV CEO as of July 1 for three years, with two year extension option.  Full Article

OMV AG proposes FY 2014 dividend
Wednesday, 18 Feb 2015 07:00pm EST 

OMV AG:Proposes stable dividend of 1.25 euros per share for FY 2014.  Full Article

Bucharest stock exchange approves withdrawal from trading from alternative trading system of OMV AG
Tuesday, 17 Feb 2015 09:23am EST 

OMV AG:Says the Bucharest stock exchange approved the company's withdrawal from trading from the alternative trading system of the Bucharest stock exchange as of Feb. 20.  Full Article

OMV AG announces resignation of Gerhard Roiss as CEO as of June 30, 2015
Tuesday, 14 Oct 2014 01:55pm EDT 

OMV AG:Says Supervisory Board of OMV and Gerhard Roiss have agreed that Gerhard Roiss resigns from his position as Chairman of Executive Board and CEO as of June 30, 2015.Says furthermore, Supervisory Board took decision to integrate business segment Gas and Power into business segment Refining and Marketing, thereby creating combined business segment Downstream headed by Executive Board member Manfred Leitner as of Jan. 1, 2015.Negotiations with Hans-Peter Floren, Executive Board member for Gas and Power, on his contract to be started.  Full Article

OMV AG makes small oil discovery in Barents Sea
Thursday, 3 Jul 2014 03:52am EDT 

OMV AG:Announces that it has made a small oil discovery in the Barents Sea.Says the well, drilled about seven kilometers northwest of the 7324/8-1 "Wisting Central" oil found, encountered an oil column of about 20 meters, estimated to hold between three and eight million cubic meters of recoverable oil.Says it holds 25 percent in the license 537, where the discovery was made.Says the other partners include Idemitsu Petroleum, Petoro and Tullow Oil with each holding 20 percent, and Statoil with 15 percent.  Full Article

Atlantic Petroleum concludes drilling on the re-entry of the 6104/21-2 Brugdan II exploration well on Faroes Licence 006 held with Statoil ExxonMobil and OMV
Friday, 27 Jun 2014 03:00am EDT 

Atlantic Petroleum P/F:Says that drilling operations on the re-entry of the 6104/21-2 Brugdan II exploration well on Faroes Licence 006, held with Statoil, ExxonMobil and OMV, have concluded.The well was drilled to 4542 meters and drilling was operationally challenging.No hydrocarbons were found in the intervals drilled and the well will be now plugged and abandoned.The well was re-entered using the West Hercules semi-submersible rig in a water depth of about 460m.Brugdan is a large four-way dip closure in the Tertiary that was previously drilled in 2006 by the 6104/21-1 well.Neither well encountered the Vaila Sandstone target.The well is operated by Statoil who holds a 35 pct interest in the licence.Atlantic Petroleum has 1 pct interest, with 49 pct held by ExxonMobil and 15 pct by OMV.  Full Article

Gazprom OAO, OMV AG sign South Stream Austria shareholder agreement-Interfax
Tuesday, 24 Jun 2014 06:23am EDT 

Gazprom OAO:Gazprom and Austrian oil and gas concern OMV AG signed the South Stream Austria GmbH shareholder agreement setting out the principles for construction of the Austrian segment of the South Stream gas pipeline-Interfax.Gazprom CEO Alexei Miller signed the agreement with his counterpart at OMV, Gerhard Roiss.Gazprom and OMV own South Stream Austria 50-50.The agreement defines their specific rights and obligations and lays out the principles for financing and distribution of earnings among the shareholders.The agreement signing was accompanied by approval of the final investment decision on construction of the Austrian segment of the pipeline under the previously agreed criteria, Gazprom said in a statement.The sides plan to secure all necessary permits for construction of South Stream before the end of 2015.The pipeline's Austrian segment is scheduled to start up at the end of 2016.The shareholder agreement follows up on the memorandum on implementation of the South Stream project in Austria, Russian presidential aide Yury Ushakov said earlier.The memorandum covered construction of the Austrian segment of the gas pipeline with capacity to ship up to 32 billion cubic meters a year to the terminus at Baumgarten.The Austrian segment of the pipeline is scheduled to attain full design capacity by Jan. 2018.  Full Article

Lundin Petroleum spuds appraisal well 16/4-8 S on the Luno II discovery, offshore Norway in license shared with OMV and Statoil
Monday, 23 Jun 2014 02:23am EDT 

Lundin Petroleum AB:Says it through its wholly owned subsidiary Lundin Norway AS (Lundin Norway) commenced drilling of appraisal well 16/4- 8 S on the Luno II discovery in license shared with OMV AG and Statoil ASA.The Luno II discovery is located approximately 15 kilometers (km) south of the Edvard Grieg field in the North Sea sector of the Norwegian Continental Shelf (NCS).The well is located in PL359 and will appraise the Luno II Central South basin, located 4km southeast of the Luno II discovery well.The main objective of well 16/4-8 S is to test the reservoir properties and verify the petroleum potential.The reservoir is expected to be of Jurassic/Triassic age.The planned total depth is about 2,700 meters below mean sea level and the well will be drilled with the semi-submersible drilling unit Bredford Dolphin.The drilling operation is expected to take approximately 50 days.Lundin Norway, the operator of PL359, holds a 40 pct interest and has announced that it will increase its interest to 65 pct interest, subject to governmental approval.Statoil Petroleum AS holds 15 pct interest and OMV Norge AS has entered into an agreement to increase its interest from 15 to 20 pct, subject to governmental approval.  Full Article

UPDATE 2-Austria's OMV eyes Russia for exploration boost

* Refining margins expected to fall in second half (Recasts, adds CEO comments)

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