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 www.rocksolidimages.com
OMV Norge AS can be found at www.omvnorge.no

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.

www.rocksolidimages.com

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.

www.omv.com
www.omvnorge.no

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
 
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