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OMV Announces Second Oil and Gas Discovery in Tunisia

Source: www.gulfoilandgas.com 7/19/2006, Location: Africa

OMV Aktiengesellschaft announced a discovery and successful testing of oil and gas in its Nawara 1 exploration well in the Jenein Sud Exploration Permit in Southern Tunisia.

This is the second discovery in the Permit within a year and shows the high potential of this block, which is operated by OMV (Tunesien) Exploration GmbH, a 100% subsidiary of OMV. The exploration well reached a total depth of 3,970 meter on June 4, 2006 and encountered a total of 25 meter net oil and gas/condensate pay in several layers at depths of 3,600 to 3,900 meter. Further appraisal developments of the area include the acquisition of 3D seismic and drilling of additional wells.

The combined flow rate of all layers tested by the Nawara 1 well amounts to 5,970 bbl/d of oil and 58 mn scf/d of gas. The drilling rig has moved off and preparations for further production testing are under way. Acquisition of 3D seismic is expected to start in August this year, and further Drilling will commence early next year. OMV and the Tunisian national oil company ETAP each hold 50% in the Jenein Sud Exploration Permit. The area covers 1,992 km², 700 km south of the Tunisian capital Tunis.

On 29 March this year, OMV announced its first discovery in the Jenein Sud Permit with well Warda 1 producing 1,500 bbl/d of oil and 1,625 boe/d of gas on test.

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