OMV, the energy company, has confirmed the successful discovery of natural gas at the Wittau Tief-2a exploration well in Lower Austria. The well, operated by OMV, reached a final depth of 5000 meters after five months of operations.

Alfred Stern, Chairman of the Executive Board and CEO of OMV AG, expressed excitement about the positive outcome of the exploration, stating: "The positive result of our exploration is exciting news for OMV and its customers. As we continue to work on our strategy to diversify our supply sources of natural gas, this new find marks a major contribution to the natural gas supply of our customers, especially in Austria, with an expected increase in our local production."

A preliminary evaluation suggests potential recoverable resources of approximately 48 TWh (28 million boe). Following the full development of the discovery, OMV anticipates a 50% increase in its natural gas production in Austria.

Currently, OMV is exploring various options for further appraising the field and considering a fast-track development in collaboration with the OMV-operated natural gas facility in Aderklaa, located 10 km from the newly discovered field.

This significant gas discovery represents a strategic milestone for OMV, contributing to their goal of diversifying natural gas supply sources and enhancing local production capacity to meet the energy needs of Austria and its customers.