OMV Petrom S.A. (OMV Petrom), the largest oil and gas producer in South-Eastern Europe and Mazarine Energy Romania S.R.L., a fully owned Romanian subsidiary of Mazarine Energy B.V. (Mazarine Energy) announce that parties have reached agreement on the transfer of 19 onshore oil fields plus three workover rigs and associated crews (together, the “Transaction”) to Mazarine Energy Romania S.R.L. for an undisclosed purchase price. The transfer of the licenses is being done according to all rights and obligations arising from the Petroleum Law and other related regulations. The transfer is subject to approval by the relevant authorities.

Completion for the Transaction is expected in late Q4 2016 when Mazarine Energy Romania will assume operatorship of the Fields and employment of over 200 staff currently employed by OMV Petrom.

The Fields are located in the Carpathian Foreland Basin and the Moesian Platform (in the Moldova and Muntenia regions). Mazarine has identified a number of production optimization and workover opportunities that will grow production. In addition, seismic acquisition campaigns are scheduled to identify undrilled structures.

The 19 fields are part of a package which has been available for transfer since 2014 as part of field portfolio optimization. In 2015, the 19 fields had a cumulated daily production of approximately 1,000 boe/d.

Capital for the Transaction will come from the US$500 million equity line provided by Carlyle International Energy Partners, a US$2.5 billion fund that invests in global oil and gas exploration and production, mid- and downstream, oil field services and refining and marketing in Europe, Africa, Latin America and Asia.

Peter Zeilinger, member of the board of OMV Petrom, responsible for Upstream activities: “Through this transaction we open the way for a better future for these fields; Mazarine can continue investments thus the field life could be extended. Fields which are marginal for OMV Petrom could have increased potential for other operators which could improve fields’ performance.”

Edward van Kersbergen, Founder and CEO of Mazarine Energy, said: “We are pleased to have agreed this investment as we continue to execute our strategy of focusing on low-cost, low-risk onshore assets and adding value through expert reservoir management and cost-effective operations. We welcome our new staff and look forward to jointly further developing these fields.”

Marcel van Poecke, Head of Carlyle International Energy Partners, added: “Edward and the team are continuing to deliver on their strategy of growth for Mazarine Energy through investment in high-quality assets, and we are excited to continue supporting the company with its expansion plans.”

About Mazarine Energy

Mazarine Energy is a subsurface-driven private oil and gas exploration and production company focused on early-stage exploration and field development. The company is currently active in North Africa, where it has a majority operating interest in an onshore license in central Tunisia and in Western Australia, where it is partnering in a consortium in the exploration and development of an onshore tight gas field in the North Perth Basin. Mazarine Energy is actively reviewing additional opportunities in Europe, North Africa, Asia and Australia.

About OMV Petrom

OMV Petrom is the largest integrated oil and gas group in South-Eastern Europe, with an annual oil and gas production of approximately 65 mn boe in 2015. The Group has a refining capacity of 4.5 mn tons / year and operates an 860 MW high efficiency power plant and a 45 MW wind park. OMV Petrom is present on the oil products retail markets in Romania and neighboring countries through approximately 800 filling stations as of end of 2015.

OMV, one of Austria's largest listed industrial companies, holds a 51.01% share in OMV Petrom. The Romanian state, via the Ministry of Energy, Small and Medium Enterprises and Business Environment, holds 20.64% of OMV Petrom shares, Fondul Proprietatea (Restitution Funds) holds 18.99% and 9.36% is free float on the Bucharest Stock Exchange.