OMV, the leading energy Group in the European growth belt, announces additional gas reserves in the Latif Exploration License located in the Sindh Province/Pakistan. OMV is the operator and holds a 33.4% working interest in the Block.

The Latif North-1 well was drilled 3 km north of the 2007 discovered Latif gas field and successfully tested 44.7 mn scf/d (approximately 7,400 boe/d) from a gas-bearing zone within the Lower Goru Formation at 3,350 meters depth. This is the best performing Latif well so far.

Latif North-1 is OMV’s 3rd drilling success in the Latif area after the Latif-1 discovery in 2007 and Latif-2 in 2008. Both wells together are currently producing 29 mn scf/d (approximately 4,830 boe/d) gas which is processed at the OMV operated Kadanwari processing plant and is provided to the local Pakistani market.

The testing results of Latif North-1 indicate a substantial increase of recoverable gas reserves. Based on this encouraging result the field development plan will include the drilling of additional wells.
The Latif gas discoveries are the result of continuous successful exploration and appraisal efforts and will enhance domestic gas production in Pakistan.

The discoveries in Latif Block and the existing infrastructure of the producing fields are located near the markets of the two Pakistani gas transmission and distribution companies, Sui Northern Gas Pipelines and Sui Southern Gas Company. The addition of new reserves through exploration activities strengthens this area as a strategic hub.

OMV holds a balanced international E&P portfolio in 17 countries structured around six core regions, namely CEE, North Africa, Northwestern Europe, the Middle East, Australia/New Zealand and Russia/Caspian region. OMV's daily production is approximately 317,000 boe/d and the Company’s proven reserves at the end of 2009 were approximately 1.19 bn boe.

OMV (Pakistan) Exploration GmbH, a 100% subsidiary of OMV, is the biggest international natural gas producer in terms of operated volumes in Pakistan. OMV is recognized for its expertise on stratigraphic hydrocarbon traps and discovered and produces from the Sawan, Miano, Tajjal and Latif fields.

As the operator of the gas fields, as well as the Kadanwari and Sawan processing facilities, OMV is responsible for operating more than 525 mn scf/d (87,000 boe/d) covering approximately 13% of Pakistan’s demand for natural gas. Current total daily net production of OMV in Pakistan is about 101 mn scf/d (17,000 boe/d).