OMV today signed a Heads of Agreement with the National Iranian Oil Company (NIOC) regarding a participation in the development of an area in the South Pars Gas Field in the Persian Gulf (South Pars Field phase 12), a liquefaction plant for Liquefied Natural Gas (Iran LNG) and a subscriber agreement for Liquefied Natural Gas (LNG).

A coordinated and aligned project in Iran on the basis of an integrated approach would involve two of OMV’s business segments (Exploration & Production and Gas) and would complement the planed LNG regasification terminal in Croatia, in the development of which OMV participates. According to current plans, the LNG terminal in Croatia should start operating in 2011/2012 and Iran, with its substantial gas reserves, could be a source of supply.

Further talks on this matter are confidential. Concrete results are not expected until the second half of 2007.