Published April 27, 2011

Resolutions passed in Petrom’s OGMS

April 27, 2011

Dividends for 2010 to be distributed in total value of RON 1 bn
Investment budget for current year, around RON 4.9 bn
New members in Petrom’s Supervisory Board

Petrom, the largest oil and gas producer in Southeastern Europe, announces a series of resolutions taken within the Ordinary General Meeting of Shareholders on April 26, 2011.

Distribution of dividends
Further to the Executive Board’s proposal, OGMS approved the distribution of dividends to OMV Petrom S.A. shareholders of RON 0.0177 per share (gross value). The total value of dividends that will be distributed starting with 1 June 2011 amounts to RON 1,002.6 mn.

Investments are maintained at the same high level as 2010
OGMS approved the revenues and expenditures budget for the financial year 2011 of OMV Petrom S.A. and prepared according to Romanian Accounting Standards. Therefore, the investments estimated by the company amount to around RON 4.9 bn, at the same level as the investments in 2010. Most of the investments, namely 67%, are destined for Exploration and Production activities, 21% of the budget is directed to Refining and Marketing activities, 9% will represent the investments in Gas and Power.

New members in Petrom Supervisory Board
Given Mr Wolfgang Ruttenstorfer’s waiver of the mandate as member of the Supervisory Board, OGMS approved, for the remaining duration of Mr Wolfgang Ruttenstorfer’s mandate, respectively until April 2013, the appointment of Mr. Manfred Leitner, as new member of the Supervisory Board. Starting with 1 April 2011 Mr Leitner is the member of OMV Aktiengesellschaft’ s Executive Board in charge with Refining and Marketing activity, including petrochemicals and held in the past the position of Business Unit Manager for Downstream Optimization & Supply in OMV Aktiengesellschaft and various other positions within the OMV Group.

Based on the proposal of the shareholder Ministry of Economy, Trade and Business Environment, following the revocation of Mr Marian Ţurlea, OGMS approved for the remaining duration of Mr Marian Ţurlea’s mandate, respectively until April 2013, the appointment of Mr Constantin Dascălu as member of the Supervisory Board. Mr. Constantin Dascălu has been personal counsellor to the Minister of Economy, Trade and Business Environment starting 2010.

Petrom Group
Petrom Group is the largest oil and gas group in South-eastern Europe, with activities in the business segments of Exploration and Production, Refining and Marketing as well as Gas and Power. The Group consolidated its position on the oil market in South-eastern Europe following a far-reaching modernization and efficiency increase process whereas investments accounted for more than EUR 6 bn during the last six years.

In Romania and Kazakhstan, the Group exploits proved oil and gas reserves of approximately 832 mn boe (in Romania 805 boe) and has a maximum annual refining capacity of 8 mn tons.

On the distribution market of oil products, Petrom Group is present through a network of approximately 800 filling stations, operated under two brands, Petrom and OMV. The activity in Romania is performed through OMV Petrom Marketing, 100% owned by Petrom. OMV Petrom Marketing operates 546 filling stations, out of which 389 are Petrom and 157 OMV. The Group also owns an international network of approximately 250 filling stations, located in Republic of Moldova, Bulgaria and Serbia.

For the Group’s sustainable development, its strategy includes business diversification by approaching the power market. In this context, Petrom is building a 860 MW gas fired power plant at Brazi and acquired the project for the construction of a 45 MW wind park.

In 2010 the Group’s turnover was EUR 4,421 mn, EBIT was EUR 709 mn.

OMV, the leading energy group in the European growth belt holds a 51.01% share in Petrom. OMV is active in 13 Central European countries in its Refining and Marketing business segment and in 16 countries on four continents in Exploration and Production. Ministry of Economy holds 20.64% of Petrom shares, Property Fund SA holds 20.11%, the European Bank for Reconstruction and Development 2.03% and 6.21% is free float on Bucharest Stock Exchange.