OMV the leading energy Group in the European growth belt, through its fully owned subsidiary OMV of Tunesien Production GmbH, completed the acquisition of 100% of the entire issued share capital of Pioneer Natural. Resources Tunisia Limited and Pioneer Natural Resources, Anaguid Limited from Pioneer Natural Resources, an independent US oil and gas company. The transaction was aligned with the Tunisian government.

OMV has paid USD 800 million as purchase price plus USD 39.3 million as working capital which has been adjusted for USD 37.0 million of dividends distributed to and USD 10.6 million of capital contributions made by the seller between signing and closing. The working capital amount will be finally adjusted based on the 2010 audited financial statements which are expected in Q1 2011.

The pre emption right regarding the Anaguid interest has not been exercised by the JV partner. OMV therefore also acquired the rights in the Anaguid exploration permit and the Mona or Durra production concession.

From a strategic point of view, the acquired acreage offers considerable exploration upside and complements OMV's existing south Tunisian assets, Jenein Sud and Nawara very well. With closing of the transaction, OMV doubles its daily production in Tunisia, totaling above 10,000 boe and will benefit from immediate realization of operational synergies. Both OMV's and Pioneer Tunisia's operations were maintained throughout the recent weeks and their staff was actively pursuing transition activities. This acquisition underlines OMV's view on the potential in the South and our long term commitment to the country.

The transaction consideration has been funded with existing cash and committed credit lines. OMV remains committed to strict capital discipline and retains the clear objective of maintaining a strong investment grade credit rating.