26.03.2020,
31886 Zeichen
Public Payment transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
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 EU Accounting
Directive (2013/34/EU). The "Basis of preparation" paragraph provides
information to the reader about the contents of the report. This also includes
information 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 that arose from
exploration, pro spection, discovery, development and extraction of minerals,
oils and natural gas deposits or other materials within extractive activities
are presented in this report.
Government
A "government" is defined as any national, regional or local authority of a
country and includes a department agency or entity undertaking that is
controlled by the government authority and includes national oil companies.
In cases where a stateowned entity engages in activities outside of its
designated home jurisdiction, then it is not deemed to be a reportable
governmental 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 governmental 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 or concessions or related
agreements with substantially similar terms that are signed with a government,
giving rise to pay ment 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, 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 will
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 regulations require that payments are to be reported where they are made to
governments by OMV. It is required that the report reflect the substance of each
transaction and activity. Based on these requirements, OMV has considered its
reporting obligation as:
Where OMV makes a payment directly to the government, these payments will be 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\nIn cases where OMV is a member of a joint operation for which the operator is a stateowned entity (i.e. a government), payments made to that stateowned entity will be disclosed where it is possible to identify the reportable payment from other cost recovery items.\nFor host government production entitlements, the terms of the agreement have to be consid ered; for the purpose of reporting in this report, OMV will disclose host government entitlements in their entirety where it is the operator.\nMateriality
Payments made as a single payment or a series of related payments that are below
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 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 will show 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 will also include any
entitlements arising from an interest held by a stateowned entity as an
investor in projects within its sovereign juris diction. Production
entitlements arising from activi ties or interests outside of a stateowned
entity's sovereign jurisdiction are excluded.
Taxes
Taxes levied on income, production or profits of companies are reported. Refunds
will be netted against payments and shown accordingly. Consumption taxes,
personal income taxes, sales taxes, property taxes and environmental taxes are
not reported under the regulations. 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 being reported
relating to OMV's non extractive activities in Austria.
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 that of other shareholders.
For the year that ended December 31, 2019, 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 consider ation 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 nongovernment 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 that ended December 31, 2019.
Of the seven payment types that are required by the Austrian regulations to be
reported upon, OMV did not pay any dividends, bonuses or infrastructure
improvements that met the defined accounting directive definition and therefore
these categories are not shown.
______________________________________________________________________________
|Payments | | | | | |
|overview____|____________|____________|____________|____________|_____________|
|In EUR 1,000| Production | Taxes | Royalties | Fees | Total |
|____________|Entitlements|____________|____________|____________|_____________|
|Country_____|____________|____________|____________|____________|_____________|
|Austria_____|____________|______26,600|______70,326|_________118|_______97,044|
|Kazakhstan__|____________|______16,625|____________|_______1,031|_______17,656|
|Madagascar__|____________|____________|____________|_______3,691|________3,691|
|Malaysia____|_____181,017|______14,968|______39,705|______26,308|______261,998|
|Norway______|____________|_____400,178|____________|_______2,328|______402,506|
|New_Zealand_|____________|______48,040|______63,634|_______6,387|______118,061|
|Romania_____|____________|_____219,433|_____159,952|______31,015|______410,400|
|Tunisia_____|____________|______13,807|_______8,878|__________99|_______22,784|
|United Arab | | 47,425| 100,952| 80,313| 228,690|
|Emirates____|____________|____________|____________|____________|_____________|
|Yemen_______|______77,138|____________|_______7,340|_______9,874|_______94,352|
|Total_______|_____258,155|_____787,076|_____450,787|_____161,164|____1,657,182|
No payments have been reported for Libya for the year 2019 as OMV was not the
operator.
On November 30, 2017, OMV acquired a stake of 24.99% in OJSC Severneftegazprom
(SNGP). As SNGP is an associated company and therefore accounted for using the
equity method in OMV Group Consolidated Financial Statements it does not meet
the definition of a reporting entity in the context of the Austrian Commercial
Code.
On January 31, 2019, OMV and Sapura Energy Berhad closed the agreement to form a
strategic partnership. The new entity, SapuraOMV Upstream Sdn. Bhd., and its
subsidiaries are fully consoli dated in OMV's Group financial statements
Payments by country
______________________________________________________________________________
|Payments by | | | | | |
|country_______|____________|___________|____________|____________|____________|
|In EUR 1,000 | Production | Taxes | Royalties | Fees | Total |
|______________|Entitlements|___________|____________|____________|____________|
|Austria_______|____________|___________|____________|____________|____________|
|Governments___|____________|___________|____________|____________|____________|
|Federal | | | | | |
|Ministry for | | | | | |
|Digital | | | 70,326| | 70,326|
|and Economic | | | | | |
|Affairs_______|____________|___________|____________|____________|____________|
|Federal | | | | | |
|Ministry of | | 26,600| | | 26,600|
|Finance_______|____________|___________|____________|____________|____________|
|Federal | | | | | |
|Ministry for | | | | 118| 118|
|Sustainability| | | | | |
|and_Tourism___|____________|___________|____________|____________|____________|
|Total_________|____________|_____26.600|______70,326|_________118|______97,044|
|______________|____________|___________|____________|____________|____________|
|Projects______|____________|___________|____________|____________|____________|
|Lower_Austria_|____________|_____26,600|______70,326|_________118|______97,044|
|Total_________|____________|_____26,600|______70,326|_________118|______97,044|
______________________________________________________________________________
|In EUR 1,000 | Production | Taxes | Royalties | Fees | Total |
|_____________|Entitlements|____________|____________|____________|____________|
|Kazakhstan___|____________|____________|____________|____________|____________|
|Governments__|____________|____________|____________|____________|____________|
|State Revenue| | 16,625| | 247| 16,872|
|Committee____|____________|____________|____________|____________|____________|
|Training | | | | | |
|centers | | | | 305 (1)| 305|
|universities_|____________|____________|____________|____________|____________|
|Licenced | | | | | |
|Research | | | | | |
|and | | | | 479 (2)| 479|
|Development | | | | | |
|Organisations|____________|____________|____________|____________|____________|
|Total________|____________|______16,625|____________|_______1,031|______17,656|
|_____________|____________|____________|____________|____________|____________|
|Projects_____|____________|____________|____________|____________|____________|
|Tasbulat_____|____________|_______5,967|____________|_________797|_______6,764|
|Komsomolskoe_|____________|______10,658|____________|_________234|______10,892|
|Total________|____________|______16,625|____________|_______1,031|______17,656|
(1) Financing of various expenses with regard to university training centers as
agreed within the concession agreement
(2) Various expenses with regards to research and development works
___________________________________________________________________________
|In EUR 1,000| Production | Taxes | Royalties | Fees | Total |
|____________|Entitlements|________|____________|_____________|_____________|
|Madagascar__|____________|________|____________|_____________|_____________|
|Governments_|____________|________|____________|_____________|_____________|
|Office des | | | | | |
|Mines | | | | | |
|Nationales | | | | 3,691| 3,691|
|et des | | | | | |
|Industries | | | | | |
|Stratégiques|____________|________|____________|_____________|_____________|
|Total_______|____________|________|____________|________3,691|________3,691|
|____________|____________|________|____________|_____________|_____________|
|Projects____|____________|________|____________|_____________|_____________|
|Explorations|____________|________|____________|________3,691|________3,691|
|Total_______|____________|________|____________|________3,691|________3,691|
______________________________________________________________________________
|In EUR 1,000| Production | Taxes | Royalties | Fees | Total |
|____________|Entitlements|____________|____________|____________|_____________|
|Malaysia____|____________|____________|____________|____________|_____________|
|Governments_|____________|____________|____________|____________|_____________|
|Petroliam | | | | | |
|Nasional | 94,368 (1)| | 39,705 (3)| 24,530| 158,603|
|Berhad______|____________|____________|____________|____________|_____________|
|Ketua | | | | | |
|Pengarah | | 14,968| | | 14,968|
|Hasil Dalem | | | | | |
|Negeri______|____________|____________|____________|____________|_____________|
|Petronas | | | | | |
|Carigali SDN| 86,649 (2)| | | 1,778| 88,427|
|BHD_________|____________|____________|____________|____________|_____________|
|Total_______|_____181,017|______14,968|______39,705|______26,308|______261,998|
|____________|____________|____________|____________|____________|_____________|
|Projects____|____________|____________|____________|____________|_____________|
|Block PM323/| 137,137 (4)| 4,904| 24,907 (6)| 20,020| 186,968|
|PM329_______|____________|____________|____________|____________|_____________|
|Block_PM318_|____________|_______6,504|____________|_________748|________7,252|
|Block | | | | 3,089| 3,089|
|AAKBNLP_____|____________|____________|____________|____________|_____________|
|Block SK408/| 43,880 (5)| 3,448| 14,798 (7)| 2,451| 64,577|
|SK310_______|____________|____________|____________|____________|_____________|
|Payments not| | | | | |
|attributable| | 112| | | 112|
|to_projects_|____________|____________|____________|____________|_____________|
|Total_______|_____181,017|______14,968|______39,705|______26,308|______261,998|
(1) Includes payments in kind for 1,706,019 bbl of crude oil valued using the
average monthly price per boe
(2) Includes payments in kind for 2,652,414 bbl of crude oil valued using the
average monthly price per boe
(3) Includes payments in kind for 1,138,911 bbl of crude oil valued using the
average monthly price per boe
(4) Includes payments in kind for 2,182,255 bbl of crude oil valued using the
average monthly price per boe
(5) Includes payments in kind for 2,176,178 bbl of crude oil valued using the
average monthly price per boe
(6) Includes payments in kind for 395,205 bbl of crude oil valued using the
average monthly price per boe
(7) Includes payments in kind for 743,706 bbl of crude oil valued using the
average monthly price per boe
______________________________________________________________________________
|In EUR 1,000 | Production | Taxes |Royalties | Fees | Total |
|_________________|Entitlements|___________|__________|___________|____________|
|Norway___________|____________|___________|__________|___________|____________|
|Governments______|____________|___________|__________|___________|____________|
|Oljedirektoratet_|____________|___________|__________|______2,306|_______2,306|
|Skatteetaten_____|____________|____400,178|__________|_________12|_____400,190|
|Miljodirektoratet|____________|___________|__________|_________10|__________10|
|Total____________|____________|____400,178|__________|______2,328|_____402,506|
|_________________|____________|___________|__________|___________|____________|
|Projects_________|____________|___________|__________|___________|____________|
|Gulfaks__________|____________|_________44|__________|___________|__________44|
|Gudrun___________|____________|_________44|__________|___________|__________44|
|Norway | | | | | |
|Exploration | | | | 2,322| 2,322|
|Projects_________|____________|___________|__________|___________|____________|
|Payments not | | | | | |
|attributable to | | 400,090| | 6| 400,096|
|projects_________|____________|___________|__________|___________|____________|
|Total____________|____________|____400,178|__________|______2,328|_____402,506|
______________________________________________________________________________
|In EUR 1,000 | Production | Taxes | Royalties | Fees | Total |
|_____________|Entitlements|____________|____________|____________|____________|
|New_Zealand__|____________|____________|____________|____________|____________|
|Governments__|____________|____________|____________|____________|____________|
|Inland | | 48,040| | | 48,040|
|Revenue______|____________|____________|____________|____________|____________|
|Maritime | | | | | |
|Safety | | | | 10| 10|
|Authority____|____________|____________|____________|____________|____________|
|Ministry of | | | | | |
|Business and | | | 63,634| 5,969| 69,603|
|Innovation___|____________|____________|____________|____________|____________|
|Environmental| | | | | |
|Protection | | | | 408| 408|
|Authority____|____________|____________|____________|____________|____________|
|Total________|____________|______48,040|______63,634|_______6,387|_____118,061|
|_____________|____________|____________|____________|____________|____________|
|Projects_____|____________|____________|____________|____________|____________|
|Maari________|____________|____________|______14,295|_________133|______14,428|
|Maui_________|____________|____________|_______4,804|____________|_______4,804|
|Pohokura_____|____________|____________|______44,535|____________|______44,535|
|New Zealand | | | | | |
|exploration | | | | 515| 515|
|projects_____|____________|____________|____________|____________|____________|
|Payments not | | | | | |
|attributable | | 48,040| | 5,739| 53,779|
|to_projects__|____________|____________|____________|____________|____________|
|Total________|____________|______48,040|______63,634|_______6,387|_____118,061|
______________________________________________________________________________
|In EUR 1,000| Production | Taxes | Royalties | Fees | Total |
|____________|Entitlements|____________|____________|____________|_____________|
|Romania_____|____________|____________|____________|____________|_____________|
|Governments_|____________|____________|____________|____________|_____________|
|State budget| | 219,433| 159,952| | 379,385|
|____________|____________|____________|____________|____________|_____________|
|Local | | | | 4,123| 4,123|
|councils____|____________|____________|____________|____________|_____________|
|National | | | | | |
|Agency for | | | | | |
|Mineral | | | | 2,200| 2,200|
|Resources | | | | | |
|(ANRM)______|____________|____________|____________|____________|_____________|
|National | | | | | |
|Company of | | | | 13,777| 13,777|
|Forests_____|____________|____________|____________|____________|_____________|
|CONPET_SA___|____________|____________|____________|__________90|___________90|
|National | | | | | |
|Authority | | | | | |
|for | | | | 9,912| 9,912|
|Electricity | | | | | |
|Regulation | | | | | |
|(ANRE)______|____________|____________|____________|____________|_____________|
|Offshore | | | | | |
|Operations | | | | | |
|Regulatory | | | | 913| 913|
|Authority | | | | | |
|(ACROPO)____|____________|____________|____________|____________|_____________|
|Total_______|____________|_____219,433|_____159,952|______31,015|______410,400|
|____________|____________|____________|____________|____________|_____________|
|Projects____|____________|____________|____________|____________|_____________|
|Onshore | | | | | |
|production | | | 121,544| 20,138| 141,682|
|zones_______|____________|____________|____________|____________|_____________|
|Onshore | | | | | |
|Joint | | | 1,281| | 1,281|
|Ventures____|____________|____________|____________|____________|_____________|
|Offshore | | 20,635| 37,127| 965| 58,727|
|Black_Sea___|____________|____________|____________|____________|_____________|
|Payments not| | | | | |
|attributable| | 198,798| | 9,912| 208,710|
|to_projects_|____________|____________|____________|____________|_____________|
|Total_______|____________|_____219,433|_____159,952|______31,015|______410,400|
______________________________________________________________________________
|In EUR 1,000| Production | Taxes | Royalties | Fees | Total |
|____________|Entitlements|____________|____________|____________|_____________|
|Tunisia_____|____________|____________|____________|____________|_____________|
|Governments_|____________|____________|____________|____________|_____________|
|Receveur des| | 13,167| | 99| 13,266|
|Finances____|____________|____________|____________|____________|_____________|
|Receveur des| | 640| | | 640|
|Douanes_____|____________|____________|____________|____________|_____________|
|Entreprise | | | | | |
|Tunisienne | | | 6,606 (1)| | 6,606|
|d'Activités | | | | | |
|Pétrolières_|____________|____________|____________|____________|_____________|
|Tresorerie | | | | | |
|Generale de | | | 2,272| | 2,272|
|Tunisie_____|____________|____________|____________|____________|_____________|
|Total_______|____________|______13,807|_______8,878|__________99|_______22,784|
|____________|____________|____________|____________|____________|_____________|
|Projects____|____________|____________|____________|____________|_____________|
|South | | 13,807| 8,878 (1)| 99| 22,784|
|Tunisia_____|____________|____________|____________|____________|_____________|
|Total_______|____________|______13,807|_______8,878|__________99|_______22,784|
(1) Includes payments in kind for 115,900 bbl of crude oil valued using the
average monthly price per boe
In Tunisia where OMV is not the operator, it's proportional contribution to the
host government's royalties for 2019 would have been EUR 1.52 mn for 26,595 bbl
of crude oil valued using the average monthly price per boe.
______________________________________________________________________________
|In EUR 1,000| Production | Taxes | Royalties | Fees | Total |
|____________|Entitlements|____________|____________|____________|_____________|
|United Arab | | | | | |
|Emirates____|____________|____________|____________|____________|_____________|
|Governments_|____________|____________|____________|____________|_____________|
|Abu Dhabi | | | | | |
|National Oil| | | | 80,313| 80,313|
|Company | | | | | |
|(ADNOC)_____|____________|____________|____________|____________|_____________|
|Emirate of | | | | | |
|Abu Dhabi - | | 47,425| 100,952| | 148,377|
|Finance | | | | | |
|Department__|____________|____________|____________|____________|_____________|
|Total_______|____________|______47,425|_____100,952|______80,313|______228,690|
|____________|____________|____________|____________|____________|_____________|
|Projects____|____________|____________|____________|____________|_____________|
|Umm Lulu and| | 47,425| 100,952| 828| 149,205|
|SARB________|____________|____________|____________|____________|_____________|
|United Arab | | | | | |
|Emirates | | | | 79,485| 79,485|
|exploration | | | | | |
|projects____|____________|____________|____________|____________|_____________|
|Total_______|____________|______47,425|_____100,952|______80,313|______228,690|
____________________________________________________________________________
|In EUR 1,000| Production | Taxes | Royalties | Fees | Total |
|____________|Entitlements|________|_____________|_____________|_____________|
|Yemen_______|____________|________|_____________|_____________|_____________|
|Governments_|____________|________|_____________|_____________|_____________|
|Ministry of | | | | | |
|Oil & | 77,138 (1)| | 7,340 (2)| 9,874| 94,352|
|Minerals____|____________|________|_____________|_____________|_____________|
|Total_______|______77,138|________|________7,340|________9,874|_______94,352|
|____________|____________|________|_____________|_____________|_____________|
|Projects____|____________|________|_____________|_____________|_____________|
|Block_S2____|__77,138_(1)|________|____7,340_(2)|________6,511|_______90,989|
|Block_86____|____________|________|_____________|________3,363|________3,363|
|Total_______|______77,138|________|________7,340|________9,874|_______94,352|
(1) Payments in kind for 1,354,213 BOE valued at prices set by the Yemen Crude
Oil Marketing Directorate
(2) Payments in kind for 128,853 BOE valued at prices set by the Yemen Crude Oil
Marketing Directorate
Vienna, March 11, 2020
The Executive Board
Rainer Seele m.p.
(Chairman of the Executive Board,
Chief Executive Officer and Chief Marketing Officer)
Johann Pleininger m.p.
(Deputy Chairman of the Executive Board and Chief Upstream Operations Officer)
Reinhard Florey m.p.
(Chief Financial Officer)
Thomas Gangl m.p.
(Chief Downstream Operations Officer)
end of announcement euro adhoc
issuer: OMV Aktiengesellschaft
Trabrennstraße 6-8
A-1020 Wien
phone: +43 1 40440/21600
FAX: +43 1 40440/621600
mail: investor.relations@omv.com
WWW: http://www.omv.com
ISIN: AT0000743059
indexes: ATX
stockmarkets: Wien
language: English
Digital press kit: http://www.ots.at/pressemappe/145/aom
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