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Ad hoc report - Status of compliance with the Bucharest Stock Exchange Corporate Governance Code

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

Date of report: January 4, 2016
Name of issuer: OMV Petrom S.A.
Headquarters: Bucharest, Coralilor nr. 22, sector 1
Telephone/fax number: +40 372 160697/ +40 372 868518 
Sole registration number at the Trade Register Office: 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:

Status of compliance with the Bucharest Stock Exchange Corporate Governance Code

Starting with the 2010 financial year, OMV Petrom SA ("OMV Petrom" or "the Company") has adhered to the Corporate Governance Code ("CGC") issued by the Bucharest Stock Exchange ("BSE"). Since then, details about the Company’s compliance with the principles and recommendations stipulated under the CGC have been presented in the "Comply or Explain" statements included in the annual reports.

OMV Petrom has continuously developed and updated its corporate governance practices in order to meet requirements as well as to develop opportunities and increase competitiveness.

In September 2015 the BSE issued a new Corporate Governance Code ("the Code"). The provisions of the new Code are being carefully examined and Company’s compliance therewith is being thoroughly assessed.

The status of Company’s compliance with the new provisions of the Code as of 31 December 2015 is presented in Appendix 1. OMV Petrom currently is and has been in full compliance with most of these requirements during the past few years. The main reason why OMV Petrom is noncompliant with some of the Code’s provisions arises from the particularities of the Company and its history. Further consideration will be applied with regards to these provisions and any subsequent progress made by the Company in achieving compliance will be reported to the capital market.

Appendix 1: Status of compliance with the provisions of the new BSE Corporate Governance Code as of 31 December 2015, (TXT, 31,2 KB)

Mariana Gheorghe
Chief Executive Officer

Andreas Matje
Chief Financial Officer