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Ad-hoc report - OMV Petrom consolidates multiple support services into service center OMV Petrom Global Solutions SRL

In compliance with Capital Markets Law no. 297/2004 and Regulation no.1/2006 of NSC

Date of report: 26.03.2014
Name of issuer: OMV PETROM S.A.
Headquarters: Bucharest, Coralilor nr. 22, sector 1 (“ Petrom City")
Telephone, fax number: +40 372 429082/ +40 372 868518 
Sole registration number: 1590082
Fiscal attribute: R
Trade Register Number: J 40/8302/1997
Share capital: 5,664,410,833.5 RON
Regulated market on which the issued shares are traded: Bucharest Stock Exchange

Significant event to be reported:

OMV Petrom consolidates multiple support services into service center OMV Petrom Global Solutions SRL (OPGS)

OMV Petrom SA (OMV Petrom), the largest oil and gas producer in Southeastern Europe, is continuing to increase efficiency by transferring support services to a newly established entity, OPGS, owned by OMV Petrom and OMV Solutions GmbH. OPGS will provide services to the Petrom and OMV Groups in several countries where the groups operate.

This decision is in line with the OMV Petrom strategy of focusing on the company’s core activities and follows international trends of bundling ancillary services into a service centers.

Andreas Matje, CFO OMV Petrom: "We are an integrated oil and gas company, our main focus is on this sector. On the other hand, we need high performance and customized services at competitive costs, and OPGS, as a separate legal entity, will develop to meet these requirements. It is the first time in Romania that a service center specialized in the oil and gas industry has been set up and we believe this has a great importance, also in terms of the role that Romania might have as an energy hub for the region".

The goal of the transfer is IT services, primary accounting and other support activities, which are currently in the Global Solutions Department of OMV Petrom. The effective activity transfer is planned for July 2014.

Approximately 1,000 employees will be transferred to OPGS within the transfer process.

This transaction will not have a material impact on OMV Petrom’s financials, as it accounts for less than 10% of OMV Petrom’s total asset value, respectively the company’s net annual turnover.

OMV Petrom
OMV Petrom is the largest oil and gas group in South Eastern Europe, with activities in Exploration and Production, Gas and Power, and Refining and Marketing. The Group has consolidated its position on the oil market in South Eastern Europe following a far-reaching modernization and efficiency increase process, with investments of EUR 10 bn in the last nine years.

As of the end of 2013 the Group had proven oil and gas reserves of approximately 728 mn boe in Romania and Kazakhstan (707 mn boe in Romania). With a maximum annual refining capacity of 4.2 mn t, OMV Petrom is present in the distribution market for oil products in Romania, the Republic of Moldova, Bulgaria and Serbia through a network of approximately 800 filling stations, operated under two brands, Petrom and OMV. In Romania, this activity is performed through OMV Petrom Marketing, 100% owned by OMV Petrom.

To ensure sustainable development, OMV Petrom has expanded the gas value chain into power. In this context, OMV Petrom operates a 860 MW gas fired power plant at Brazi and a 45 MW wind park at Dorobantu.

In 2013 the Group’s turnover was EUR 5.473 bn, with EBIT of EUR 1.348 bn.

OMV, Austria’s largest listed industrial company, holds a 51.01% share in OMV Petrom. The Exploration and Production business segment has a strong base in Romania and Austria and a growing international portfolio.

In Gas and Power, OMV sold approximately 425 TWh of gas in 2013. In Refining and Marketing, OMV has an annual refining capacity of 17.4 mn tonnes and as of the end of 2013 approximately 4,200 filling stations in 11 countries including Turkey.

The Ministry of Economy holds 20.64% of OMV Petrom shares, the Property Fund holds 18.99% and 9.36% is free float on the Bucharest Stock Exchange.

Mariana Gheorghe
Chief Executive Officer
President of the Executive Board