Takreer, Neste Oil and OMV sign Heads of Terms for base oil plant in Abu Dhabi

Notes and media contacts

Background information:

Takreer
Takreer is a refining company with an over all crude and condensate processing capacity of about 500,000 bbl/d. Takreer with its fundamental strength in oil refining is now working on expanding its activities in the downstream sector to identify and deploy products and process technologies that would provide a competitive edge. Takreer with a vision to become a leading diversified oil refining company is now interested in expanding its product portfolio by venturing into production of high quality base oils.

Neste Oil
Neste Oil with its head office in Espoo, Finland is a refining and marketing company focused on advanced, clean traffic fuels with a strategy that prioritizes growing its refining and premium quality bio diesel businesses. Neste Oil has a total refining capacity of approximately 250,000 bbl/d. Neste Oil is an industry leader in manufacturing and marketing of Very High Viscosity Index (VHVI) base oils under the Nexbase brand.

OMV Aktiengesellschaft
With Group sales of EUR18.97bn and a workforce of 40,993 employees in 2006, as well as market capitalization of approx. EUR14bn, OMV Aktiengesellschaft is Austria's largest listed industrial company. As the leading oil and gas group in Central Europe, OMV is active in Refining and Marketing (R&M) in 13 countries. In Exploration and Production (E&P) OMV is active in 20 countries on five continents. OMV sells more than 14 bcm gas a year. OMV's Austrian gas hub Baumgarten annually transports approximately 47 bcm of gas. OMV's Central European Gas Hub is amongst the three largest hubs in Europe.

With the acquisition of a majority stake in the Romanian Petrom, OMV has become the largest oil and gas group in Central Europe, with oil and gas reserves of approx. 1.3bn boe, daily production of around 320,000 boe and an annual refining capacity of 26.4m metric tons. OMV now has over 2,518 filling stations in 13 countries. The market share of the group in the R&M business segment in the Danube Region is now 20%.

OMV further strengthened its leading position in the European growth belt through the acquisition of 39.6% of Petrol Ofisi, Turkey's leading company in the retail and commercial business.
In June 2006, OMV has established the OMV Future Energy Fund, a wholly owned subsidiary to support projects in renewable energy with more than EUR 100 Mio to initiate the change from a pure oil and gas group to an energy group with renewable energy in its portfolio.

OMV: Corporate Social Responsibility (CSR)
OMV is actively committed to the values enshrined in its Code of Conduct. These include a strong sense of responsibility towards the social and natural environment in economically weak regions. OMV works hard to address economic, environmental and social issues related to its operations. Its CSR activities are fully documented in biannual performance reports compiled according to Global Reporting Initiative guidelines.

For further information, please contact:

Background information:

Takreer
Takreer is a refining company with an over all crude and condensate processing capacity of about 500,000 bbl/d. Takreer with its fundamental strength in oil refining is now working on expanding its activities in the downstream sector to identify and deploy products and process technologies that would provide a competitive edge. Takreer with a vision to become a leading diversified oil refining company is now interested in expanding its product portfolio by venturing into production of high quality base oils.

Neste Oil
Neste Oil with its head office in Espoo, Finland is a refining and marketing company focused on advanced, clean traffic fuels with a strategy that prioritizes growing its refining and premium quality bio diesel businesses. Neste Oil has a total refining capacity of approximately 250,000 bbl/d. Neste Oil is an industry leader in manufacturing and marketing of Very High Viscosity Index (VHVI) base oils under the Nexbase brand.
OMV Aktiengesellschaft
With Group sales of EUR 18.97 billion and a workforce of 40,993 employees in 2006, as well as market capitalization of approx. EUR 14 billion, OMV Aktiengesellschaft is Austria's largest listed industrial company. As the leading oil and gas group in Central Europe, OMV is active in Refining and Marketing (R&M) in 13 countries. In Exploration and Production (E&P) OMV is active in 20 countries on five continents. OMV sells more than 14 bcm gas a year. OMV's Austrian gas hub Baumgarten annually transports approximately 47 bcm of gas. OMV's Central European Gas Hub is amongst the three largest hubs in Europe.
With the acquisition of a majority stake in the Romanian Petrom, OMV has become the largest oil and gas group in Central Europe, with oil and gas reserves of approx. 1.3 billion boe, daily production of around 320,000 boe and an annual refining capacity of 26.4 million metric tons. OMV now has over 2,518 filling stations in 13 countries. The market share of the group in the R&M business segment in the Danube Region is now 20%.
OMV further strengthened its leading position in the European growth belt through the acquisition of 39.6% of Petrol Ofisi, Turkey's leading company in the retail and commercial business.
In June 2006, OMV has established the OMV Future Energy Fund, a wholly owned subsidiary to support projects in renewable energy with more than EUR 100 Mio to initiate the change from a pure oil and gas group to an energy group with renewable energy in its portfolio.
OMV: Corporate Social Responsibility (CSR)
OMV is actively committed to the values enshrined in its Code of Conduct. These include a strong sense of responsibility towards the social and natural environment in economically weak regions. OMV works hard to address economic, environmental and social issues related to its operations. Its CSR activities are fully documented in biannual performance reports compiled according to Global Reporting Initiative guidelines.

For further information, please contact:

Gladson Ronad or Fouad Kassem
MCS Action
Ph: +971 4 3902960

OMV
Press:
Bettina Gneisz Tel.: 0043 1 40 440 21660
Thomas Huemer Tel.: 0043 1 40 440 21660