OMV AG

Environmental & Social Information • Apr 7, 2025

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Publication: 07.04.2025 14:00 Source: https://www.pressetext.com/news/20250407019 Keywords: No Keyword

Report on payments to government agencies according to article 128 BörseG

OMV Aktiengesellschaft: Consolidated Report on the Payments Made to Governments

Vienna (pta019/07.04.2025/14:00 UTC+2)

Section 267c of the Austrian Commercial Code (UGB) requires that large undertakings and public interest entities that are active in the extractive industry or logging of primary forests prepare the following consolidated report on payments to governments. This section implements Chapter 10 of the EU Accounting Directive (2013/34/EU). The "Basis of preparation" paragraph provides information to the reader about the contents of the report, including details on the type of payment for which disclosure is required and how OMV has implemented the regulations in the preparation of the report.

Basis of preparation

Reporting entities

Under the requirements of the regulation, OMV Aktiengesellschaft is required to prepare a consolidated report covering payments made to governments for each financial year in relation to extractive activities by itself and any subsidiary undertakings included in the consolidated Group financial statements.

Activities within the scope of the report

Payments made by the OMV Group (hereafter OMV) to governments as a result of from exploration, prospection, discovery, development, and extraction of minerals, oils, and natural gas deposits or other materials during extractive activities are presented in this report.

Government

A "government" is defined as any national, regional, or local authority of a country or a department, agency, or undertaking that is controlled by that authority and includes national oil companies.

In cases where a state-owned entity engages in activities outside its designated home jurisdiction, it is not deemed to be a reportable government body for these purposes, and thus payments made to such an entity in these circumstances are not reportable.

Project definition

The regulation also requires payments to be reported on a "project" basis as well as on a government and government body basis. A project is defined as the operational activities that are governed by a single contract, license, lease, concession, or similar legal agreement and form the basis for payment liabilities to the government. Where these agreements as per the aforementioned definition are substantially interconnected, these agreements are treated for the purpose of these regulations as a single project.

"Substantially interconnected" is defined as a set of operationally and geographically integrated contracts, licenses, leases, concessions, or related agreements with substantially similar terms that are signed with a government, giving rise to payment liabilities. Such agreements can be governed by a single contract, joint venture agreement, production sharing agreement, or other overarching legal agreement.

There may be instances, for example, in the case of corporate income taxes, where it is not possible to attribute the payment to a single project and therefore these payments are shown at the country level.

Cash and payments in kind

In accordance with the regulation, payments have to be reported on a cash basis. This means that they are reported in the period in which they are paid and not in the period in which they are accounted for on an accruals basis.

Refunds are also reported in the period in which they are received and are either be offset against payments made in the period or be shown as negative amounts in the report.

Payments in kind made to a government are converted to an equivalent cash value based on the most appropriate and relevant valuation method for each payment type. This can be at cost or market value and an explanation is provided in the report to help explain the valuation method. Where applicable, the related volumes are also included in the report.

Payment reporting methodology

The regulation stipulates that payments made to governments by OMV are to be reported. It is required that the report reflects the substance of each transaction and activity. Based on these requirements, OMV has considered its reporting obligation as follows:

• Where OMV makes a payment directly to the government, these payments are reported in full, irrespective of whether this is made in the sole capacity of OMV or in OMV's capacity as the operator of a joint operation.
• In cases where OMV is a member of a joint operation of which the operator is a state-owned entity (i.e., a government), payments made to that state-owned entity are disclosed where it is possible to identify the reportable payment from other cost recovery items.
• For host government production entitlements, the terms of the agreement have to be considered; for the purpose of providing information in this report, OMV discloses host government entitlements in their entirety where it is the operator.

Materiality

Payments made as a single payment or a series of related payments with a total of less than EUR 100,000 within a financial year are excluded from this report.

Reporting currency

Payments made in currencies other than euros are translated for the purposes of this report at the average exchange rate of the reporting period.

Payment types disclosed

Production entitlements

Under production sharing agreements (PSAs), the host government is entitled to a share of the oil and gas produced and these entitlements are often paid in kind. The report shows both the value and volume of the government's production entitlement for the relevant period in barrels of oil equivalent (boe).

The government share of any production entitlement also includes any entitlements arising from an interest held by a state-owned entity as an investor in projects within its sovereign jurisdiction. Production entitlements arising from activities or interests outside a state-owned entity's sovereign jurisdiction are excluded.

Taxes

Taxes levied on the income, production, or profits of companies are reported. Refunds are netted against payments and shown accordingly. Consumption taxes, personal income taxes, sales taxes, property taxes, and environmental taxes are not reported under the regulation. Although there is a tax group in place, the reported corporate income taxes for Austria relate entirely to the extractive activities in Austria of OMV's subsidiaries, with no amounts relating to OMV's non-extractive activities in Austria being reported.

Royalties

Royalties relating to the extraction of oil, gas, and minerals paid to a government are to be disclosed. Where royalties are paid in kind, the value and volume are reported.

Dividends

In accordance with the regulations, dividends are reported when paid to a government in lieu of production entitlements or royalties. Dividends that are paid to a government as an ordinary shareholder are not reported, as long as the dividends are paid on the same terms as those of other shareholders.

For the year ending December 31, 2024, OMV had no such reportable dividend payments to a government.

Bonuses

Bonuses include signature, discovery, and production bonuses in each case to the extent paid in relation to the relevant activities.

Fees

These include license fees, rental fees, entry fees, and all other payments that are paid in consideration for access to the area where extractive activities are performed.

The report excludes fees paid to a government that are not specifically related to extractive activities or access to extractive resources. In addition, payments paid in return for services provided by a government are also excluded.

Infrastructure improvements

Payments overview

The report includes payments made by OMV for infrastructural improvements, such as the building of a road or bridge that serves the community, irrespective of whether OMV pays the amounts to non-government entities. These are reported in the period during which the infrastructure is made available for use by the local community.

Payments overview

The overview table below shows the relevant payments to governments that were made by OMV in the year ending December 31, 2024.

Of the seven payment types that must be reported according to the Austrian regulations, OMV did not pay any dividends, bonuses, or for infrastructure improvements that met the defined accounting directive definition, and therefore these categories are not shown.

In EUR 1,000
	Production entitlements	Taxes	Royalties	Fees	Total
Country
Austria	—	30,259	80,669	—	110,928
Georgia	—	—	—	2,310	2,310
Malaysia	379,790	29,347	90,958		10,944 511,040
New Zealand	—	30,714	41,672	7,861	80,246
Norway	—	884,605	—	3,076	887,680
Romania	—	550,102	155,745		27,966 733,813
Tunisia	—	21,113	15,188	104	36,406
United Arab Emirates —		618,751	292,982	1,606	913,339
United Kingdom		355	—	—	355
Yemen	—	—	—	277	277
Total	379,790	2,165,246 677,215			54,144 3,276,395

No payments have been reported for Libya for the year 2024 as OMV was not the operator.

There were no major acquisitions during 2024. On December 9, 2024, OMV closed the transaction to sell its 50% share in the Malaysian SapuraOMV Upstream Sdn. Bhd. to TotalEnergies.

In Yemen, in 2024 OMV and its international JV partner declared their withdrawal from the Joint venture in Block S2 and OMV resigned as the operator.

Payments by country

Austria In EUR 1,000

Production entitlements Taxes Royalties Fees Total

Governments

Austria

In EUR 1,000

	Production entitlements Taxes Royalties Fees			Total
Federal Ministry of Finance —		30,259 80,669	—	110,928
Total	—	30,259 80,669	—	110,928
Projects
Lower Austria	—	30,259 80,669	—	110,928
Total	—	30,259 80,669	—	110,928

Georgia

In EUR 1,000

Production entitlements Taxes Royalties Fees Total

Governments
LEPL State Agency of Oil and Gas —		— —	2,310 2,310
Total	—	— —	2,310 2,310
Projects
Offshore Black Sea	—	— —	2,310 2,310
Total	—	— —	2,310 2,310

Malaysia

In EUR 1,000

Production entitlements Taxes Royalties Fees Total

Governments
Petroliam Nasional Berhad	160,077 (1)	—	90,958 (3) 10,944 261,980
Ketua Pengarah Hasil Dalam Negeri —		29,109 —		—	29,109
PETRONAS Carigali Sdn Bhd	219,713 (2)	238	—	—	219,952
Total	379,790		29,347 90,958		10,944 511,040
Projects
Block SK408/SK310	379,790 (4)		29,347 90,958 (3) 10,944 511,040
Total	379,790		29,347 90,958		10,944 511,040

1 Includes payments in kind for 5,440,589 bbl of oil equivalent valued using the average monthly price per boe 2 Includes payments in kind for 8,956,357 bbl of oil equivalent valued using the average monthly price per boe 3 Includes payments in kind for 3,583,532 bbl of oil equivalent valued using the average monthly price per boe 4 Includes payments in kind for 14,396,946 bbl of oil equivalent valued using the average monthly price per boe

New Zealand In EUR 1,000

	Production entitlements		Taxes Royalties Fees		Total
Governments
Inland Revenue	—	30,714 —		—	30,714
Ministry of Business, Innovation and Employment	—	—	41,672		7,747 49,419
Environmental Protection Authority	—	—	—	114	114
Total	—		30,714 41,672		7,861 80,246
Projects
Maari	—	—	14,234	70	14,304
M?ui	—	—	9,992		7,744 17,736
Pohokura	—	—	17,446	12	17,458

New Zealand

In EUR 1,000

	Production entitlements	Taxes Royalties Fees		Total
New Zealand exploration projects —		— —	31	31
Payments not attributable to projects —		30,714 —	4	30,718
Total —		30,714 41,672		7,861 80,246

Norway In EUR 1,000

	Production entitlements	Taxes	Royalties Fees		Total
Governments
Sokkeldirektoratet	—	—	—		2,242 2,242
Skatteetaten	—	873,028 —		—	873,028
Fylkesmannen i Rogaland	—	—	—	2	2
Miljødirektoratet	—	—	—	32	32
Equinor Energy AS	—	11,576	—	800	12,376
Total	—	884,605 —			3,076 887,680
Projects
Gullfaks	—	6,961	—	226	7,187
Gudrun	—	1,929	—	521	2,450
Aasta Hansteen	—	2,549	—	53	2,602
Berling	—	—	—	631	631
Norway exploration projects	—	—	—		1,645 1,645
Payments not attributable to projects —		873,164 —		—	873,164
Total	—	884,605 —			3,076 887,680

Romania

In EUR 1,000

	Production entitlements	Taxes	Royalties	Fees	Total
Governments
State budget	—	550,102 (1)	155,745	—	705,847
Local councils	—	—	—	4,775	4,775
National Regulatory Authority in the Mining, Petroleum and Geological Storage of Carbon Dioxide (ANRMPSG) (2)	—	—	—	4,219	4,219
National Company of Forests	—	—	—		16,209 16,209
National Company Maritime Ports Administration S.A.	—	—	—	207	207
CONPET SA	—	—	—	106	106
National Authority for Electricity Regulation (ANRE)	—	—	—	1,547	1,547
Offshore Operations Regulatory Authority (ACROPO)	—	—	—	903	903
Total	—	550,102	155,745		27,966 733,813
Projects
Onshore production zones	—	107,003	132,907		24,764 264,673
Offshore Joint Operations	—	—	—	920	920
Offshore Black Sea	—	4,496	22,839	734	28,069
Payments not attributable to projects	—	438,603	—	1,547	440,150

	Production entitlements	Taxes	Royalties	Fees	Total
Total	—	550,102	155,745		27,966 733,813

1 Includes payments for solidarity contribution on refined crude oil of EUR 250,165 thousand

2 During 2024, the National Agency for Mineral Resources (NAMR) was dissolved, and a new entity was set-up – the National Regulatory Authority in the Mining, Petroleum and Geological Storage of Carbon Dioxide (ANRMPSG), by means of GEO 81/28.06.2024.

Tunisia In EUR 1,000

	Production entitlements Taxes Royalties Fees				Total
Governments
Receveur des Finances	—	20,301 6,673		104	27,079
Receveur des Douanes	—	812	—	—	812
Entreprise Tunisienne d'Activités Pétrolières —		—	8,515 (1)	—	8,515
Trésorerie Générale de Tunisie	—	—	—	—	—
Total	—		21,113 15,188	104	36,406
Projects
South Tunisia	—		21,113 15,188 (1) 104		36,406
Total	—		21,113 15,188	104	36,406

1 Includes payments in kind for 128,920 bbl of oil equivalent valued using the average monthly price per boe

United Arab Emirates In EUR 1,000

		Production entitlements	Taxes	Royalties Fees		Total
Governments
Abu Dhabi National Oil Company (ADNOC) —			—	—	1,606 1,606
Emirate of Abu Dhabi – Finance Department	—			618,751 292,982	—	911,733
Total	—			618,751 292,982		1,606 913,339
Projects
Umm Lulu and SARB	—			618,751 292,982	993	912,726
Ghasha	—		—	—	613	613
Total	—			618,751 292,982		1,606 913,339

United Kingdom

In EUR 1,000

Production entitlements Taxes Royalties Fees Total

Governments
His Majesty's Revenues & Customs —		355	—	—	355
Total	—	355	—	—	355
Projects
Offshore Joint Operations	—	355	—	—	355
Total	—	355	—	—	355

Yemen

In EUR 1,000

	Production entitlements Taxes Royalties Fees Total
Governments
Ministry of Oil & Minerals —		—	—	277	277
Total	—	—	—	277	277
Projects
Block S2	—	—	—	277	277
Total	—	—	—	277	277

Vienna, March 14, 2025

The Executive Board

Emitter:	OMV Aktiengesellschaft Trabrennstraße 6-8 1020 Wien Austria
Contact Person:	Thomas Hölzl
Phone:	+43 1 40440/23760
E-Mail:	compliance@omv.com
Website:	www.omv.com
ISIN(s):	AT0000743059 (Share)
Stock Exchange(s):	Vienna Stock Exchange (Official Trade)

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