Consolidated Report on the Payments Made to Governments

Section 267c of the Austrian Commercial Code

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

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.

Payments overview

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

 

 

 

 

 

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

160,0771

90,9583

10,944

261,980

Ketua Pengarah Hasil Dalam Negeri

29,109

29,109

PETRONAS Carigali Sdn Bhd

219,7132

238

219,952

Total

379,790

29,347

90,958

10,944

511,040

Projects

 

 

 

 

 

Block SK408/SK310

379,7904

29,347

90,9583

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

Māui

9,992

7,744

17,736

Pohokura

17,446

12

17,458

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

550,1021

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

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

8,5151

8,515

Trésorerie Générale de Tunisie

Total

21,113

15,188

104

36,406

Projects

 

 

 

 

 

South Tunisia

21,113

15,1881

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

Alfred Stern m.p.
Chairman of the Executive Board
and Chief Executive Officer

Reinhard Florey m.p.
Chief Financial Officer

Martijn van Koten m.p.
Executive Vice President Fuels & Feedstock, and
Executive Vice President Chemicals

Berislav Gaso m.p.
Executive Vice President Energy

boe
Barrel of oil equivalent

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