OMV Norge AS Signs an R&D/Service Agreement with Rock Solid Images

  OMV Norge AS Signs an R&D/Service Agreement with Rock Solid Images  Business Wire  HOUSTON -- February 26, 2014  OMV Norge AS and RSI have entered into an initial one-year R&D/service agreement to work on the integration of geophysics, rock physics and geology to provide improved quantitative interpretation in exploration. The project is based on a collaboration format where geoscientists from both companies work closely together, bringing RSI's rock physics and geophysical expertise, and OMV's geological and regional understanding together to improve confidence and exploration success. The project will lead to the development of new workflows and technology that will be useful both in Norway and across OMV’s exploration portfolio and will contribute to more tailored and fit-for-purpose services from RSI.  To facilitate the close collaboration RSI will provide a dedicated R&D center based in OMV’s office in Stavanger, consisting of hardware, software and RSI technical staff.  Stated by Reijo Kangas, OMV Norge Exploration Manager: “This is a great opportunity for OMV to more effectively plug into vital technology from RSI and thereby developing more integrated geoscience workflows in exploration. Having people with different skills and experience from supplier and operator working closely together over time will stimulate learning and vitality, increase thrive and eventually exploration performance.”  Stated Dr. Lucy MacGregor, CTO of RSI: “We are delighted to be working with OMV on this important project. We expect the software, workflows and best-practices we develop will be applicable to both on NCS and in other exploration areas with a scarcity of well-data for seismic calibration.”  More information on RSI can be found at OMV Norge AS can be found at  ABOUT RSI:  RSI is an independent geoscience consulting firm offering quantitative reservoir characterization with the goal of reducing exploration drilling risk and optimizing reservoir appraisal and development plans. The Company is an industry leader in the interpretation and integration of seismic data with well log, CSEM and MT data, and uses advanced rock physics methods combined with sophisticated geologic models to deliver robust and reliable predictions of reservoir geometries and properties to our customers.  ABOUT OMV:  OMV Aktiengesellschaft  With Group sales of EUR 42.42 bn and a workforce of around 27,000 employees in 2013, OMV Aktiengesellschaft is Austria’s largest listed industrial company. The Exploration and Production business segment has a strong base in Romania and Austria and a growing international portfolio. 2013 daily production stood at approx. 288,000 boe/d. In Gas and Power, OMV sold approximately 425 TWh of gas in 2013. OMV operates a gas pipeline network in Austria and gas storage facilities in Austria and Germany with a capacity of 2.6 bcm. In Refining and Marketing OMV has an annual refining capacity of 17,4 mn tonnes and as of the end of 2013 approximately 4,200 filling stations in 11 countries including Turkey.  Contact:  Rock Solid Images plc Gareth Taylor, +1 713 783 5593 President or Lucy MacGregor, +1 713 783 5593 Chief Technology Officer or Bob Auckland, +44 (0)7919 490 911 Chief Financial Officer or OMV Tim Allan, +43 664 6121789 Chief Geoscientist for Geophysics, OMV Vienna or Reijo Kangas, +47 91 39 23 59 Exploration Manager, OMV Norge