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8/10/2019 Omv Financial Statements
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S.C. OMV PETROM S.A.
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
DECEMBER 31, 2011
PREPARED IN ACCORDANCE WITH
INTERNATIONAL FINANCIAL REPORTING
STANDARDS AS ENDORSED BY THE EU,TOGETHER WITH
THE INDEPENDENT AUDITORS’ REPORT
8/10/2019 Omv Financial Statements
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S.C. OMV PETROM S.A. AND SUBSIDIARIESAUDITOR’S REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011PREPARED IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS
CONTENTS PAGE
INDEPENDENT AUDITORS’ REPORT 1 - 2
CONSOLIDATED STATEMENT OF FINANCIAL POSITION 3 - 4
CONSOLIDATED INCOME STATEMENT 5
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 6
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 7 - 8
CONSOLIDATED STATEMENT OF CASH FLOS !
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 1" - 62
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS OF DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
D/!' 31, D/!' 31,
ASSETS
N"%& 2011 2010
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N"$8/#''$% a&&%& 31,021.1 26,97.95
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O$*. 9'#%#'%) %++*$+ 6 1121" 13872O$*. %++*$+ 7 34!7! 6"3"8C%+ %# %+ *'%)*#$+
1175384 1,5886"
A++*$+ *) 9/. +%)* 7644 772!
C#''$% a&&%& ,944.73 4,30.57
T"%a a&&%& 34,966.99 39,54.24
E:UITY AND LIABILITIES
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T* #/$*+ /# 0%&*+ 1" $/ 62 9/. 0%.$ /9 $*+* /#+/)'%$* 9'#%#'%) +$%$**#$+3
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
D/!' 31, D/!' 31,N"%& 2011 2010
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D'.*$ +*))'#& *:0*#+*+ <56414= <43661=P./$'/# /+$+ /9 +%)*+ <14,32"74= <12,7!"!8=
G'"&& *'"% 5,526.55 ,366.10
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17<42"25= <1865!=
O$*. /0*.%$'#& *:0*#+*+ <1,4"72"= <1,28""5=
Ea'$$>& "' $%'&% a$+ %a)& (EBIT 20 9,73.54 2,76.1
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Ba&/ a'$$>& *' &-a' $ RON 2 0.0443 0.0367
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CHANGES IN E:UITY
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
Ca&- F"'>$" /#''$/= N"$8
S-a' R?$# -+>$> %'a$&a%"$ O%-' T'a&#'= S%"/;-"+'&@ /"$%'"$> T"%a
/a*%a '&'?& '&'? '&'? '&'?& &-a'& <#%= $%'&%& <#%=
Baa$/ a%
a$#a'= 1, 2011 16,763.35 (.92 8 42.24 (9.41 (0.02 16,96.6 (24.9 16,97.09
T/$%) /0.**#+'*
'#/* 9/. $* *%. - 3,75675 <1275!= <!74= - - 3,61!42 "83 3,62"25
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Baa$/ a%
D/!' 31, 2011 16,763.35 2,176.53 (125.7 2.2 (9.41 (0.02 21,102.90 (2.57 21,054.41
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CHANGES IN E:UITY
FOR THE YEAR ENDED DECEMBER 31, 2010
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
Ca&- F"'>$" /#''$/= N"$8
S-a' R?$# -+>$> %'a$&a%"$ O%-' T'a&#'= S%"/;-"+'&@ /"$%'"$> T"%a
/a*%a '&'?& '&'? '&'? '&'?& &-a'& <#%= $%'&%& <#%=
Baa$/ a%
a$#a'= 1, 2010 16,763.35 (2,54.49 (160.40 135.3 (9.13 8 14,157.3 11.30 14,170.63
T/$%) /0.**#+'*
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D/!' 31, 2010 16,763.35 (.92 8 42.24 (9.41 (0.02 16,96.6 (24.9 16,97.09
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
D/!' 31, D/!' 31,
N"%& 2011 2010
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
1. LEGAL PRINCIPLES AND ACCOUNTING POLICIES
OMV P*$./ SA <22 C/.%)')/. S$.**$, "1332! B%.*+$, R/%#'%=, %+ %$''$'*+ '# E:0)/.%$'/# %#P./$'/# <EP=, G%+ %# P/>*. <GP=, R*9'#'#& %# M%.;*$'#& <RM= +*&*#$+ %# '+ )'+$* /#
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Basis of preparation
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Standards and Interpretations effective in the current period
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
1. LEGAL PRINCIPLES AND ACCOUNTING POLICIES (/"$%$#+
Standards and Interpretations issued by IASB but not yet effective and not yet early adopted by EU
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
1. LEGAL PRINCIPLES AND ACCOUNTING POLICIES (/"$%$#+
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
1. LEGAL PRINCIPLES AND ACCOUNTING POLICIES (/"$%$#+
IFRS 13 Fa' Va# Ma&#'!$%
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8/10/2019 Omv Financial Statements
http://slidepdf.com/reader/full/omv-financial-statements 17/66
S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
2. CONSOLIDATION
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8/10/2019 Omv Financial Statements
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
3. ACCOUNTING AND VALUATION PRINCIPLES
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
3. ACCOUNTING AND VALUATION PRINCIPLES (/"$%$#+
C%#&*+ '# $* %++0$'/#+ .*)%$* $/ */'++'/#'#& /+$+ %.* *%)$ >'$ 0./+0*$'*), ( .*/.'#&%# %J+$*#$ $/ $* 0./'+'/# %# % /..*+0/#'#& %J+$*#$ $/ 0./0*.$, 0)%#$ %# *'0*#$ <9/.
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; Ta)& "$ $/"! $/#+$> +''+ %a)&
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T* $%: ..*#$) 0%%()* '+ (%+* /# $%:%()* 0./9'$ 9/. $* *%. T%:%()* 0./9'$ '99*.+ 9./ 0./9'$ %+.*0/.$* '# $* /#+/)'%$* '#/* +$%$**#$ (*%+* '$ *:)*+ '$*+ /9 '#/* /. *:0*#+* $%$ %.*$%:%()* /. *$'()* '# /$*. *%.+ %# '$ 9.$*. *:)*+ '$*+ $%$ %.* #**. $%:%()* /. *$'()* T*G./0’+ )'%(')'$ 9/. ..*#$ $%: '+ %))%$* +'#& $%: .%$*+ $%$ %* (**# *#%$* /. +(+$%#$'*)*#%$* ( $* (%)%#* +**$ %$*, '# $* /#$.'*+ >*.* $* G./0 /0*.%$*+ %# &*#*.%$*+ $%:%()*'#/*
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
3. ACCOUNTING AND VALUATION PRINCIPLES (/"$%$#+
Deferred tax
D*9*..* $%: '+ 0./'* +'#& $* )'%(')'$ *$/ /# $*0/.%. '99*.*#*+ %$ $* .*0/.$'#& %$* (*$>**#$* $%: (%+*+ /9 %++*$+ %# )'%(')'$'*+ %# $*'. %..'#& %/#$+ 9/. 9'#%#'%) .*0/.$'#& 0.0/+*+
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
3. ACCOUNTING AND VALUATION PRINCIPLES (/"$%$#+
Sale of goods
R**#* 9./ $* +%)* /9 &//+ '+ .*/&#'* >*# %)) $* 9/))/>'#& /#'$'/#+ %.* +%$'+9'*?1• $* G./0 %+ $.%#+9*..* $/ $* (*. $* +'&#'9'%#$ .'+;+ %# .*>%.+ /9 />#*.+'0 /9 $*&//+
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
4. FOREIGN CURRENCY TRANSLATION
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
6. PROPERTY, PLANT AND E:UIPMENT
La$+, a$+O%-'
'>-%& a$+P'"?+ !$'a )%#'& a$+
#+$>&, $/. Pa$% a$+ A&&%& #$+' Pa=!$%& $*'"*'%& a$+ %%$>&, T"%a
#+$>& "$ !a/-$'= /"$&%'#/%"$ a+?a$/'a%+ a&&%& %""& a$+
%-'+8*a'%=<#*!$%
COST *'"*'%=
Baa$/ a& a% a$#a'= 1, 2011 9,160.16 21,056.43 3,239.19 654.05 1,6.31 1,426.17 32,.2E:%#&* '99*.*#*+ !73 11313 253 877 ""7 <"68= 13355
A'$'/#+ 1"!82 2,76777 34!17 672! 1,214!! 31545 4,8244!T.%#+9*.+ 26"11 <2!383= 78375 6542 <68!8"= <12255= 31" A++*$+ H*) 9/. S%)* "1" - - - - - "1"D'+0/+%)+ <73"7= <2785= <587"= <1518!= <2348= - <334!!=
Baa$/ a& a% D/!' 31, 2011 9,964.65 23,435.6 9,310.67 64.44 2,040.07 1,620.91 35,161.55
ACCUMULATED DEPRECIATION AND IMPAIRMENT
Baa$/ a& a% a$#a'= 1, 2011 665.0 ,34.74 1,627.59 94.01 6.55 0.37 6,556.35E:%#&* '99*.*#*+ 1!1 6128 14" 23" - - 668!D*0.*'%$'/# 2"""" 1,454"" 333!2 !641 - - 2,"8433I0%'.*#$ 444! - 3218 441 6!31 - 15"3!T.%#+9*.+ 1"! <7"83= 6447 <134= 661 - -
A++*$+ H*) 9/. S%)* - - - - - - -D'+0/+%)+ <4161= <1382= <5288= <1"224= <1862= - <22!17=.'$*-0+ <24"= - <"47= <"12= <"16= <"17= <332=
Baa$/ a& a% D/!' 31, 2011 1,070.76 4,745.7 2,206.34 949.93 11.71 0.22 10,695.97
CARRYING AMOUNT
A& a% a$#a'= 1, 2011 3,272.46 1,91.45 1,909.90 911.04 1,977.9 1,425.60 23,555.1
A& a% D/!' 31, 2011 3,37.67 14,450.24 2,102.3 901.23 1,799.16 1,620.17 24,339.26
= N*$ %/#$ .*0.*+*#$+ $.%#+9*.+ $/ '#$%#&'()*+ S** N/$* 5= I#)*+ $* %/#$ /9 RON 4632 '))'/# .*0.*+*#$'#& %'$'/#+ '# 9'#%#* )*%+'#&, RON 12!3 '))'/# .*0.*+*#$'#& )%# **+ %# RON 75"6 '))'/# .*0.*+*#$'#& '#.*%+* 9./ .*%++*++*#$ /9 $* */'++'/#'#& %++*$
27
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
8. OTHER FINANCIAL ASSETS (/"$%$#+
I$?&%!$%&
T* 0/+'$'/# I#*+$*#$+ /0.'+*+ %)) $* '#*+$*#$+ '# +(+''%.'*+ %# %++/'%$*+ $%$ >*.* #/$/#+/)'%$*, %+ $* G./0 /*+ #/$ %* /#$./) /. +'&#'9'%#$ '#9)*#* /*. $*'. /0*.%$'/#+ /. $*>*.* /#+'*.* '%$*.'%) 9/. $* G./0 T*+* 9'#%#'%) %++*$+ %.* %/#$* 9/. %$ %/.$'* /+$
E)*$+%#' '/"?'a '"! R"!a$a$ S%a%
A+ 0%.$ /9 $* 0.'%$'%$'/# %&.***#$, OMV P*$./ SA '+ .*'.* $/ )/+* >*))+, >' %.* %(%#/#*%# %.* %>%'$'#& )/+.* H/>**., + *:0*#'$.*+ >')) (* .*/*.%()* ( $* OMV P*$./ SA 9./$* R/%#'%# S$%$* %+ $*+* 0*.$%'# $/ EP %$''$'*+ 0.'/. $/ 0.'%$'%$'/# /9 $* OMV P*$./ SA '#2""4 C/#+**#$), OMV P*$./ SA %+ .*/.* $* *+$'%$* */'++'/#'#& *:0*#'$.*+%&%'#+$ .**'%()* 9./ $* R/%#'%# S$%$* '# %/#$ /9 RON 2,163"8 '))'/# %+ %$ D**(*. 31, 2"11<2"1"? RON 1,!!284 '))'/#= OMV P*$./ SA %)+/ .*/.* .**'%()* 9./ $* R/%#'%# S$%$*.*)%$* $/ *#'./#*#$%) )'%(')'$'*+ '# EP, RM %# D/)J' %/#$'#& $/ RON 47"62 '))'/# <2"1"?
RON 46611 '))'/#= %+ $*+* >*.* *:'+$'#& 0.'/. $/ 0.'%$'%$'/# /9 OMV P*$./ SAOMV P*$./ 9')* $>/ )%'+ 9/. .*'(.+**#$ /9 *#'./#*#$%) )*%#0 /+$+ '# $* %/#$ /9 RON!168 '))'/# U0 $/ #/> $* R/%#'%# S$%$* %+ #/$ 0%' $* )%'* %/#$+
T* /**#$ /9 >.'$* /># %))/>%#*+ 9/. 9'#%#'%) %++*$+ >%+ %+ 9/))/>+?
I$?&%!$%& T"%a
a$#a'= 1, 2011 21.54 21.54
I0%'.*#$ 388 388D'+0/+%)+ <1153= <1153=
.'$*-0+ - -
D/!' 31, 2011 19.11 19.11
T* %&'#& /9 /$*. 9'#%#'%) %++*$+ >' >*.* 0%+$ * ($ #/$ '0%'.* >%+ %+ 9/))/>+?
D/!' 31, D/!' 31,2011 2010
U0 $/ 6" %+ /*.* "18 "1261 $/ 12" %+ /*.* - -M/.* $%# 12" %+ /*.* - 367
T"%a 0.16 3.57
2!
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
9. RECEIVABLES AND OTHER ASSETS
1) T.%* .**'%()*+ %.* %/#$'#& $/ RON 1,82572 '))'/# %+ %$ D**(*. 2"11 %# $/ RON 1,3!7!8'))'/# %+ %$ D**(*. 2"1" T* %.* 0.*+*#$* #*$ /9 %))/>%#*+, >' %.* *$%')* '# $* /**#$
(*)/>
2)O$*. %++*$+ <#*$ /9 %))/>%#*+=
D/!' 31,L<#+%= %'!
2011 && %-a$ 1 =a' "?' 1 =a'
P.*0%' *:0*#+*+ %# *9*..* %.&*+ 8!65 6363 26"2R*#$%) %# )*%+* 0.*0%*#$+ 3227 3227 -O$*. .**'%()*+ 27677 2538! 2288
T"%a 376.47 397.57 96.70
D(/(!(' 31,L<#+%= %'!
2010 && %-a$ 1 =a' "?' 1 =a'
P.*0%' *:0*#+*+ %# *9*..* %.&*+ 716! 4634 2535R*#$%) %# )*%+* 0.*0%*#$+ 27!1 27!1 -O$*. .**'%()*+ 54871 52883 1!88
T"%a 496.31 403.06 9.23
= V%)%$'/# %))/>%#*+ 9/. $.%* .**'%()*+ %# /$*. %++*$+
T* /**#$ /9 %)%$'/# %))/>%#*+ 9/. $.%* %# /$*. %++*$+ >*.* %+ 9/))/>+?
T'a+ '/?a& O%-' a&&%& T"%a
a$#a'= 1, 2011 207.02 360.54 67.56
A'$'/#+@ <.*)*%+*+= <2"54= 1"8 <1!46=U+* <382= <"42= <424=E:%#&* '99*.*#*+ %# %#&*+ '#
/#+/)'%$* G./0 "15 ""8 "23
D/!' 31, 2011 169.61 361.0 44.31
T* &./++ %)* /9 $* '0%'.* .**'%()*+ %+ %$ D**(*. 31, 2"11 '+ /9 RON 1!357 '))'/# 9/. $.%*
.**'%()*+ %# /9 RON 38641 '))'/# 9/. /$*. %++*$+
= T* %&'#& /9 $.%* .**'%()*+ >' >*.* 0%+$ * ($ #/$ '0%'.* >%+ %+ 9/))/>+?
D/!' 31, D/!' 31,2011 2010
U0 $/ 6" %+ /*.* 182!2 1775!61 $/ 12" %+ /*.* 68" 6!2M/.* $%# 12" %+ /*.* 146 121
T"%a 171.16 16.52
I# .*)%$'/# $/ /$*. .**'%()*+, $* %/#$ /9 RON "18 '))'/# '+ 0%+$ * 0 $/ 6" %+, ($ #/$'0%'.* %+ %$ D**(*. 31, 2"11 <D**(*. 31, 2"1"? RON "12 '))'/# 0 $/ 6" %+ %# RON 367'))'/# /.* $%# 12" %+ /*.*=
3"
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
10. INVENTORIESD/!' 31, D/!' 31,
2011 2010
C.* /') 3!381 41778N%$.%) &%+ 14271 5712O$*. .%> %$*.'%)+ 47!5" 5!7!2/.; '# 0./&.*++ 11531 12735F'#'+* 0./$+ 1,21"63 1,22515 A%#*+ 0%' 9/. '#*#$/.'*+ 7"8 748"
T"%a 2,397.09 2,00.12
11. ASSETS HELD FOR SALE
D/!' 31, D/!' 31,2011 2010
L%# 743" 7454P./0*.$, 0)%#$ %# *'0*#$ 158 237D*9*..* $%: %++*$ <+** N/$* 17= "56 "38
A&&%& -+ "' &a 54.99 55.27
A++*$+ *) 9/. +%)* .*)%$* %'#) $/ 0)/$+ /9 )%# )/%$* '# S$.%)*+$', B%.*+$, /'$$* 9/. +%)* (OMV P*$./ SA (%+* /# % /#$.%$ /#)* >'$ R%'99*'+*# E/)$'/# T*+* 0)/$+ /9 )%# %* %/+$ /9 RON 74"4 '))'/# %# %.* 0.*+*#$* '# C/.0/.%$* O$*. (+'#*++ +*&*#$
12. STOCHOLDERS’ E:UITY
Share capitalT* +%.* %0'$%) /9 OMV P*$./ SA /#+'+$+ /9 56,644,1"8,335 9)) 0%' +%.*+ %+ %$ D**(*. 31,2"11 <D**(*. 31, 2"1"? +%* #(*.= >'$ % $/$%) #/'#%) %)* /9 RON 5,66441 '))'/# T*(%)%#* 0 $/ RON 18,!8337 '))'/# .*0.*+*#$+ '#9)%$'/# %J+$*#$, %+ R/%#'% >%+ % 0*.'#9)%$'/#%.*/#/ #$') %#%. 2""4
Cash flow hedging reserveI# /.*. $/ 0./$*$ $* G./0+ %+ 9)/> '# 2"11, OMV P*$./ SA *#$*.* '# %#%. 2"11 '#$/ /') 0.'*+>%0+, )/;'#& '# % B.*#$ 0.'* /9 %00./:'%$*) USD !7@(() 9/. % /)* /9 25,""" (()@ T* /') 0.'*+>%0+ >*.* %/#$* %+ %+ 9)/> *&* %# $* *99*$'* 0%.$ /9 $* %#&*+ '# 9%'. %)* >%+.*/&#'* '.*$) '# *'$ D.'#& $* *%. 2"11 $* /') 0.'* *&* >%+ .*%)'*, .*+)$'#& '# %#
*:0*#+* /9 RON 4"334 '))'/# '# OMV P*$./ SA <P)*%+* .*9*. %)+/ $/ N/$*+ 15 %# 33=
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
F.$*./.*, '# #* 2"11, OMV P*$./ G%+ SRL /#)* RON@USD %*.%&* .%$* 9/.>%. /#$.%$+9/. $* 0*.'/ N/*(*. 2"11 F*(.%. 2"12 >*.* OMV P*$./ G%+ +*))+ USD 2!!7 '))'/# >'$
/#$) 0.''#& %# +*$$)**#$, )/;'#& '# $* RON@USD %*.%&* .%$*
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
12. STOCHOLDERS’ E:UITY (/"$%$#+
T'+ '#+$.*#$ '+ %'* $/ 0./$*$ $* %+ 9)/>+ 9./ 0)%##* +%)*+ /9 &%+ $/ /*+$' )'*#$+ .'#&N/*(*. 2"11 F*(.%. 2"12 %&%'#+$ *0.*'%$'/# /9 USD *.++ RON, %+ $* +%)*+ 9/.)% 0.'* '+
)'#;* $/ USD@RON *:%#&* .%$* T* 9/.>%. /#$.%$+ >*.* %/#$* 9/. %+ %+ 9)/> *&*+ %#$* 9%'. %)*+ >*.* #*&%$'* %+ /9 D**(*. 31, 2"11, %/#$'#& $/ RON 7!2 '))'/# #*$ /9 *9*..* $%:%++*$ T'+ %)* '+ .*9)*$* %+ % *.*%+* '# *'$, #*$ /9 $%: %# % /..*+0/#*#$ 9'#%#'%) )'%(')'$<P)*%+* .*9*. %)+/ $/ N/$*+ 15 %# 33=
Revenue reserves
R**#* .*+*.*+ '#)* .*$%'#* *%.#'#&+, %+ >*)) %+ /$*. #/#-'+$.'($%()* .*+*.*+ <)*&%) %#&*/)/&'%) /$% 9%')'$ .*+*.*+=
G*/)/&'%) /$% '#)* '# .**#* .*+*.*+ '+ %/#$'#& $/ RON 5,"6284 '))'/# <2"1"? +%*%/#$= U#$') D**(*. 31, 2""6 OMV P*$./ SA (*#*9'$* 9./ &*/)/&'%) /$% 9%')'$ >*.*( '$/) %.&* 0 $/ 35 /9 $* %.;*$ %)* /9 $* /)* /9 /') %# &%+ *:$.%$* .'#& $* *%. T'+9%')'$ >%+ .*/&#'* '.*$) '# .*+*.*+ T'+ /$% >%+ .*+$.'$* $/ '#*+$*#$ 0.0/+*+ %# '+ #/$'+$.'($%()* T* /$% >%+ #/#-$%:%()*
L*&%) .*+*.*+ '#)* '# .**#* .*+*.*+ %.* %/#$'#& $/ RON 8261" '))'/# <2"1"? RON 6167"'))'/#= OMV P*$./ SA +*$+ '$+ )*&%) .*+*.* '# %/.%#* >'$ $* 0./'+'/#+ /9 $* R/%#'%#C/0%#'*+ L%>, >' .*'.*+ $%$ 5 /9 $* %##%) %/#$'#& 0./9'$ (*9/.* $%: '+ $.%#+9*..* $/ )*&%).*+*.* #$') $* (%)%#* /9 $'+ .*+*.* .*%*+ 2" /9 $* +%.* %0'$%) /9 $* C/0%#
13. PROVISIONS
P$&"$&a$+ &!a' D/"!!&&"$$> O%-'
">a%"$& a$+ '&%"'a%"$ *'"?&"$& T"%a
a$#a'= 1, 2011 275.14 ,715.6 1,61.37 5,574.90
E:%#&* '99*.*#*+ - <"6!= "22 <"47=U+* <1426= <2311!= <4"368= <64!13=
A))/%$'/#+@<.*)*%+*+= <8767= 53625 66!"4 1,11762
D/!' 31, 2011 17.23 4,222.22 1,694.75 6,249.92
$*.*/9 +/.$-$*. - 32457 !8688 1,31145
$*.*/9 )/#&-$*. 1!523 5,8!765 86""! 6,!52!7
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
13. PROVISIONS (/"$%$#+
P'"?&"$& "' +/"!!&&"$$> a$+ '&%"'a%"$
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
T* 0./'+'/# 9/. */'++'/#'#& %# .*+$/.%$'/# /+$+ '#)*+ /()'&%$'/#+ '# .*+0*$ /9 OMV P*$./SA %/#$'#& $/ RON 6,1"232 '))'/# <2"1"? RON 5,7"28" '))'/#= T*.* '+ % /..*+0/#'#& )%'%&%'#+$ $* R/%#'%# S$%$* /9 RON 2,163"8 '))'/# <2"1"? RON 1,!!284 '))'/#=, >' '+ '+)/+*#*. O$*. 9'#%#'%) %++*$+ '$*
D*$%')+ /# $* D*/'++'/#'#& %# .*+$/.%$'/# /()'&%$'/#+ %.* %+ 9/))/>+?
D/!' 31, D/!' 31,2011 2010
Baa$/ a& a% a$#a'= 1 ,715.6 ,49.26
E:%#&* '99*.*#*+ <"6!= 385N*> /()'&%$'/#+ 17" !!42C%#&*+ '# /#+/)'%$* G./0 - <"!8=R*'+'/#+ '# *+$'%$*+ 174"3 4237U#>'#'#& *99*$ 36"52 453"!
S*$$)**#$+ ..*#$ *%. <2311!= <24418=
Baa$/ a& a% D/!' 31 4,222.22 ,715.6
T* #>'#'#& *99*$ '+ '#)* '# $* '#/* S$%$**#$ #*. $* #*$ '#$*.*+$ *:0*#+* )'#* T*.*'+'/#+ '# *+$'%$*+ '0%$ *'$*. $* %++*$+ +(J*$ $/ */'++'/#'#& <%+ 0.*+*#$* '# N/$* 6= /. $*.*)%$* .**'%()* 9./ S$%$*
O$*. 0./'+'/#+ >*.* %+ 9/))/>+?
2011 T"%a && %-a$ 1 =a' "?' 1 =a'
E#'./#*#$%) 0./'+'/# 4!"2! 2"463 285-66
O$*. 0*.+/##*) 0./'+'/#+ 143!1 143-!1 -P./'+'/#+ 9/. )'$'&%$'/#+ 566"! 11673 44!-36
O$*. 64668 52161 125-"7
T"%a 1,694.75 764.66 640.07
2010 T"%a && %-a$ 1 =a' "?' 1 =a'
E#'./#*#$%) 0./'+'/# 638"5 2825! 355-46
O$*. 0*.+/##*) 0./'+'/#+ 22352 223-52 -P./'+'/#+ 9/. )'$'&%$'/#+ 6!8!7 21753 481-44
O$*. 2"85 1543 542
T"%a 1,61.37 537.05 692.32
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
13. PROVISIONS (/"$%$#+
E$?'"$!$%a *'"?&"$&
T* *#'./#*#$%) 0./'+'/# '+ *+$'%$* ( $* %#%&**#$ (%+* /# $* )'+$ /9 *#'./#*#$ .*)%$*0./J*$+ $%$ +$ (* /0)*$* ( P*$./ G./0 P*$./ G./0 *:0*.$+ '# *#'./#*#$%) '++*+ %*$*'. (*+$ *+$'%$*+ '# /.*. $/ *$*.'#* $* #**++%. 0./'+'/#+ .*/.* %+ %$ D**(*. 31, 2"11OMV P*$./ SA .*/.* *#'./#*#$%) )'%(')'$'*+ %&%'#+$ .**'%()* 9./ $* R/%#'%# S$%$* '# EP,RM %# D/)J', %+ $*+* /()'&%$'/#+ *:'+$* 0.'/. $/ 0.'%$'%$'/#
E!&&"$& /'%/a%&
D'.*$'* 2""3@87@EC /9 $* E./0*%# P%.)'%*#$ %# /9 $* E./0*%# C/#') *+$%()'+* % &.**#/+*&%+ *'++'/#+ $.%'#& +**, .*'.'#& *(*. +$%$*+ $/ .%> 0 #%$'/#%) 0)%#+ $/ %))/%$* *'++'/#+*.$'9'%$*+ R/%#'% >%+ %'$$* $/ $* +** '# %#%. 2""7, >*# '$ J/'#* $* EU
OMV P*$./ SA '+ $* /#) /0%# 9./ P*$./ G./0 '#)* '#$/ $* *'++'/# *.$'9'%$*+%))/%$'/# +** U#*. $'+ +** OMV P*$./ SA .**'* % $/$%) /9 4,444,34! 9.** *'++'/#+*.$'9'%$*+ 9/. $* *%. 2"11 <2"1"? 4,65",862=
D.'#& 2"11 P*$./ G./0 % +%)*+ /9 1,165,""" <2"1"? 2,65","""= *'++'/#+ *.$'9'%$*+
A+ %$ D**(*. 31, 2"11, P*$./ G./0 % #/ +/.$9%)) '# EU %))/>%#*+ %))/%$* /0%.* $/ $*CO2 *'++'/#+ /9 '#+$%))%$'/#+ +(J*$ $/ $* EU E'++'/# T.%'#& S**
O%-' *'&"$$ *'"?&"$&
I#)* '# /$*. 0*.+/##*) 0./'+'/#+ '+ %'#) $* .*+$.$.'#& 0./'+'/# .*/.* ( OMV P*$./ SA
9.$*. $/ %00./* .*+$.$.'#& 0)%# $%$ %+ (**# /#'%$* $/ $/+* %99*$* ( '$
P'"?&"$& "' %>a%"$&
P*$./ G./0 /#'$/.+ %)) )'$'&%$'/#+ '#+$'&%$* %&%'#+$ '$ %# %++*++*+ $* )';*)'// /9 )/++*+ %#.*)%$* 9'#%#'%) /+$ +'#& '# /+* )%>*.+ %# /$+'* )*&%) %'+/.+ P*$./ G./0 %+ %++*++* $*0/$*#$'%) )'%(')'$'*+ >'$ .*+0*$ $/ /#&/'#& %+*+ %# .*/.* '$+ (*+$ *+$'%$* /9 )';*) %+ /$9)/>+
O%-' *'"?&"$&
T* %'# +/.$-$*. 0./'+'/# '#)* #*. $'+ )'#* '+ $* %/#$ /9 RON 5"382 '))'/# .*0.*+*#$'#&$* 9'#* '0/+* ( $* R/%#'%# C/0*$'$'/# C/#') $/ OMV P*$./ SA %# $/ OMV P*$./M%.;*$'#& SRL %+ % .*+)$ /9 $* %#$'$.+$ '#*+$'&%$'/#
U#*. /$*. )/#&-$*. 0./'+'/#+ '$ '+ '#)* $* %/#$ /9 RON 12"17 '))'/# .*0.*+*#$'#& *+$'%$*/+$+ '# .*)%$'/# $/ A.0*' .*9'#*. 0*.%#*#$ )/+.* %##/#* '# M%. 2"11
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
19. INTEREST8BEARING DEBTS
D/!' 31, 2011 T"%a L&& %-a$ 1 =a' O?' 1 =a'
I#$*.*+$-(*%.'#& 9'#%#'%) )'%(')'$'*+ 2,63725 463!5 2,1733"
TOTAL 2,435.2 943.7 2,153.30
D/!' 31, 2010 T"%a L&& %-a$1 =a' O?' 1 =a'
I#$*.*+$-(*%.'#& 9'#%#'%) )'%(')'$'*+ 3,85656 3!1"5 3,46551
TOTAL 3,64.4 371.0 3,94.1
A+ %$ D**(*. 31, 2"11 %# 2"1" P*$./ G./0 % $* 9/))/>'#& )/%#+?
I$%'&%8a'$> +%& &-"'%8%'!
B"''"' L$+' D/!' 31, D/!' 31,
2011 2010
OMV P*$./ SA E./0*%# B%#; 9/. R*/#+$.$'/# %#D**)/0*#$ <%= 4"11! 33664
OMV P*$./ SA B)%; S*% T.%* %# D**)/0*#$ B%#; <(= 216" 2142OMV P*$./ SA E./0*%# I#*+$*#$ B%#; <= 2674 -OMV P*$./ SA R%'99*'+*# B%#; SA <= ""1 -
OMV P*$./ SA A.* '#$*.*+$ 2"62 32!!
OMV P*$./ SA P.*0%*#$+ '# .*)%$'/# >'$ )/%# %/#$+ .%># <621= -
T"%a $%'&% a'$> +%& &-"'% %'! 943.7 371.0
I$%'&%8a'$> +%& "$>8%'!
B"''"' L$+' D/!' 31, D/!' 31,
2011 2010
OMV P*$./ SA E./0*%# B%#; 9/. R*/#+$.$'/# %# 1,2!526 1,3!871D**)/0*#$ <%=
OMV P*$./ SA B)%; S*% T.%* %# D**)/0*#$ B%#; <(= 647! 857"OMV P*$./ SA E./0*%# I#*+$*#$ B%#; <= 8372" 557"2
OMV P*$./ SA B%#;+ C/#+/.$' <%&*#$? U#'C.*'$ B%#; A+$.'% - 1,"74"8 AG= <*=OMV P*$./ SA B%#;+ C/#+/.$' <%&*#$? U#'C.*'$ B%#; A+$.'% - 35"""
AG= <9=
OMV P*$./ SA P.*0%*#$+ '# .*)%$'/# >'$ )/%# %/#$+ .%># <23!5= -
T"%a $%'&%8a'$> +%& "$> %'! 2,153.30 3,94.1
35
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
14. INTEREST8BEARING DEBTS (/"$%$#+
(1) D.'#& 2""!, OMV P*$./ SA /#)* $>/ )/%# %&.***#$+ >'$ E./0*%# B%#; 9/.
R*/#+$.$'/# %# D**)/0*#$?
(1) A# #+*.* /.0/.%$* )/%# %&.***#$ 9/. % %:' %/#$ /9 EUR 2"""" '))'/# 9/. $*/#+$.$'/# /9 $* P/>*. P)%#$ '# P*$./(.%' T* %&.***#$ >%+ +'&#* /# M% 8, 2""! %# $*9'#%) %$.'$ %$* '+ N/*(*. 1", 2"2" T* .%>'#&+ %+ %$ D**(*. 31, 2"11 %/#$* $/RON 81815 '))'/# <*'%)*#$ /9 EUR 18!4" '))'/#= <D**(*. 31, 2"1"? RON 557"2 '))'/#,*'%)*#$ /9 EUR 13""" '))'/#=
(2) A# #+*.* /.0/.%$* )/%# %&.***#$ 9/. % %:' %/#$ /9 EUR 275"" '))'/# >'$ $*0.0/+* /9 9#'#& %# *#'./#*#$%) 0./J*$+ 0./&.% '# .*+0*$ /9 %.'/+ /0*.%$'/#+<0+$.*%, '+$.*% %# />#+$.*%=, %$* M%. 31, 2""!, >'$ 9'#%) %$.'$ %$*N/*(*. 16, 2"15 <9/. %# %/#$ /9 EUR 15""" '))'/#= %# N/*(*. 15, 2"13 <9/. $*.*%'#'#& EUR 125"" '))'/#= T* .%>'#&+ %+ %$ D**(*. 31, 2"11 >*.* RON 8783" '))'/#<*'%)*#$ /9 EUR 2"333 '))'/#= <D**(*. 31, 2"1"? RON 1,17833 '))'/#, *'%)*#$ /9 EUR 275"" '))'/#=
(2) F/. $* 9#'#& /9 $* *#'./#*#$%) 0./&.% OMV P*$./ SA /#)* %)+/ % 0%.%))*) #+*.*/.0/.%$* )/%# %&.***#$ >'$ B)%; S*% T.%* %# D**)/0*#$ B%#;, 9/. % %:' %/#$ /9 EUR 25"" '))'/# T* %&.***#$ >%+ +'&#* /# A0.') 27, 2""! %# $* 9'#%) %$.'$ %$* '+N/*(*. 15, 2"15 T* .%>'#&+ %+ %$ D**(*. 31, 2"11 %/#$* $/ RON 863! '))'/#<*'%)*#$ /9 EUR 2""" '))'/#= <D**(*. 31, 2"1"? RON 1"712 '))'/#, *'%)*#$ /9 EUR 25""'))'/#=
(3) F/. 9#'#& $* /#+$.$'/# /9 $* P*$./(.%' P/>*. P)%#$, OMV P*$./ SA /#)* %)+/ %##+*.* )/%# %&.***#$ 9/. %# %/#$ /9 EUR 2"""" '))'/# >'$ E./0*%# I#*+$*#$ B%#; T*
%&.***#$ >%+ +'&#* /# M% 8, 2""! %# $* 9'#%) %$.'$ %$* '+ #* 15, 2"23 T* .%>'#&+ %+%$ D**(*. 31, 2"11 >*.* '# %)* /9 RON 863!4 '))'/# <*'%)*#$ /9 EUR 2"""" '))'/#=<D**(*. 31, 2"1"? RON 557"2 '))'/#, *'%)*#$ /9 EUR 13""" '))'/#=
(4) C.*'$ 9%')'$ &.%#$* ( R%'99*'+*# B%#; SA 0 $/ EUR !5"" '))'/#, >'$ %$.'$ %$* 0./)/#&*$/ D**(*. 31, 2"13 T* 9%')'$ '+ #/$ +*.* T'+ 9%')'$ %# (* +* %+ /*..%9$ %# 9/. '++%#* /9 )*$$*.+ /9 &%.%#$** %# )*$$*.+ /9 .*'$ '# )$'-..*#'*+ S$%.$'#& >'$ S*0$*(*. 2!,2"1", $* 9%')'$ %# (* +* '# $* +%* )''$ %)+/ ( OMV P*$./ M%.;*$'#& SRL ($ /#) 9/. '++%#* /9 )*$$*.+ /9 &%.%#$** %# )*$$*.+ /9 .*'$
(5) O# O$/(*. 14, 2""8 OMV P*$./ SA /#)* %# #+*.* .*/)'#& .*'$ 9%')'$, 9/. %%:' %/#$ /9 EUR 375"" '))'/#, >'$ % /#+/.$' /9 (%#;+ $%$ '#)*+ BRD G./0*S/'$ G#.%)* SA, C.'$ A&.'/)* L:*(/.& SA, E0/.';' B%#;-R/%#'% SA, E.+$* G./0
B%#; AG, R%'99*'+*# *#$.%)(%#; +$*..*' AG, S/'$ G#.%)* B%#; T.+$ SA %# U#'C.*'$B%#; A+$.'% AG I# 2""! $* 9'#%) %$.'$ >%+ 0./)/#&* $/ O$/(*. 14, 2"12, />**. $*%&.***#$ >%+ %#*)* '# N/*(*. 2"11 >*# % #*> 9%')'$ >'$ % '99*.*#$ B%#;+ C/#+/.$',>%+ +'&#* <+** N/$* <&== T* .%>'#&+ %+ /9 D**(*. 31, 2"1", '# %/#$ /9 RON !64"8 '))'/#<*'%)*#$ /9 EUR 225"" '))'/#= %# RON 11""" '))'/# >*.* 9)) .*'(.+* .'#& 2"11
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
14. INTEREST8BEARING DEBTS (/"$%$#+
(7) O# N/*(*. 22, 2"11, OMV P*$./ SA .*0)%* $* .*/)'#& .*'$ 9%')'$'*+ %/#$'#& $/ EUR875"" '))'/# /#$.%$* '# 2""8 %# 2""! <+** N/$*+ <*= %# <9== >'$ % #*> #+*.* 9%')'$
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
(8) A C.*'$ O99*. /9 EUR 5"""" '))'/# >%+ +'&#* ( OMV P*$./ SA >'$ OMV A;$'*#&*+*))+%9$9/. 9#'#& $* &*#*.%) /.0/.%$* 0.0/+*+ T* %&.***#$ >%+ +'&#* /# %#%. 15, 2""! %# $*9'#%) %$.'$ %$* '+ %#%. 15, 2"14 T* 9%')'$ >%+ #/$ +* %$ D**(*. 31, 2"11 %#D**(*. 31, 2"1" T* 9%')'$ '+ #+*.*
T* G./0 /0%#'*+ %* +**.%) /*..%9$ 9%')'$'*+ +'&#* %+ %$ D**(*. 31, 2"11 %+ 9/))/>+?
(9) A# #+*.* 9%')'$ /#$.%$* ( OMV B)&%.'% OOD 9./ C'$'(%#; S/9'%, *:'+$'#& %$ D**(*. 31,2"11, >'$ % %:' )''$ /9 BGN 3!48 '))'/# <*'%)*#$ /9 RON 872" '))'/#= %# %$.'$ %$*) 15, 2"12 T* *+$'#%$'/# /9 $* 9%')'$ '+ 9'#%#'#& ..*#$ /0*.%$'/#%) %$''$'*+ </*..%9$= %#'++%#* /9 )*$$*.+ /9 &%.%#$** >'$/$ %+ /))%$*.%) T*.* >*.* #/ .%>'#&+ #*. $* /*..%9$9%')'$ %+ %$ D**(*. 31, 2"11
(10) A# #+*.* 9%')'$ /#$.%$* ( OMV B)&%.'% OOD 9./ U#'C.*'$ B)(%#; S/9'% >'$ %%:' )''$ /9 BGN 33"" '))'/# <*'%)*#$ /9 RON 728! '))'/#= %# %$.'$ /# #* 3", 2"12T* *+$'#%$'/# /9 $* 9%')'$ '+ 9'#%#'#& ..*#$ /0*.%$'/#%) %$''$'*+ </*..%9$= %# '++%#* /9 )*$$*.+ /9 &%.%#$** >'$/$ %+ /))%$*.%) N/ .%>'#&+ >*.* %* #*. $* /*..%9$ 9%')'$ %+ %$D**(*. 31, 2"11
(11) A# #+*.* 9%')'$ /#$.%$* ( OMV S*.('J% DOO 9./ R%'99*'+*# B%#; B*)&.%*, >'$ %%:' )''$ /9 EUR 45" '))'/# <*'%)*#$ /9 RON 1!44 '))'/#= %# %$.'$ 0./)/#&* $/%#%. 31, 2"13 T* *+$'#%$'/# /9 $* 9%')'$ '+ &*#*.%) /.0/.%$* 0.0/+*+ 9'#%#'#& /# % ./))-/*. (%+'+ %# '++%#* /9 )*$$*.+ /9 &%.%#$** >'$/$ %+ /))%$*.%) N/ .%>'#&+ >*.* %* #*. $*.*/)'#& 9%')'$ %+ %$ D**(*. 31, 2"11
(12) A# /*..%9$ 9%')'$ /9 RON 85"" '))'/# '+ '# 0)%* >'$ B%#% C/*.'%)% I#$*+% S%#0%/)/R/%#'% SA 9/. &*#*.%) /.0/.%$* *:0*#'$.*, >'$ %$.'$ %$* A0.') 23, 2"12 N/ .%>'#&+ >*.*%* #*. $* 9%')'$ %+ %$ D**(*. 31, 2"11 T* 9%')'$ '+ #/$ +*.*
(13) A# #/'$$*, #+*.* 9%')'$ /#$.%$* ( OMV P*$./ SA 9./ ING B%#; NV, $%$%# (* +* '# USD, RON /. EUR, '# $/$%) %/#$ /9 EUR 7""" '))'/# <*'%)*#$ /9 RON 3"238'))'/#=, 9/. $* 0.0/+* /9 '++'#& &%.%#$**+ %# >/.;'#& %0'$%) 9'#%#'#& T* 0/.$'/# 9/. /*..%9$'+ /9 EUR 3""" '))'/# <*'%)*#$ /9 RON 12!5! '))'/#= N/ .%>'#&+ #*. $* /*..%9$ 9%')'$>*.* %* %+ %$ D**(*. 31, 2"11
(14) A /'$$* .*'$ 9%')'$ /#$.%$* ( OMV P*$./ SA 9./ BRD G./0* S/'$G#.%)* SA $%$ %# (* +* '# USD, RON /. EUR, >'$ %:' )''$ /9 EUR 53"" '))'/#<*'%)*#$ /9 RON 228!4 '))'/#= %# %$.'$ %$* A0.') 3", 2"12 T* .*'$ '+ *+$'#* $/ 9'#%#*$* (/../>*.’+ ..*#$ %$''$ N/ .%>'#&+ #*. $* 9%')'$ >*.* %* %+ %$ D**(*. 31, 2"11T* .*'$ '+ #+*.*
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
14. INTEREST8BEARING DEBTS (/"$%$#+
T* G./0 /0%#'*+ %* +'&#* %)+/ 9%')'$'*+ >'$ +**.%) (%#;+ 9/. '++'#& )*$$*.+ /9 &%.%#$**, %+9/))/>+?
(15) A 9%')'$ %&.***#$ >%+ +'&#* ( OMV P*$./ SA >'$ F/.$'+ B%#; B%.*+$ (.%# 9/. 0 $/ EUR 3""" '))'/# <*'%)*#$ /9 RON 12!5! '))'/#=, $/ (* $')'* /#) 9/. '++%#* /9 )*$$*.+/9 &%.%#$**, >'$ %$.'$ %$* D**(*. 16, 2"12 T* 9%')'$ '+ #/$ +*.*
(16) C.*'$ 9%')'$ 0 $/ EUR 7433 '))'/# <*'%)*#$ /9 RON 3211" '))'/#= /($%'#* ( OMVP*$./ SA 9./ BRD G./0* S/'$ G#.%)* SA, $/ (* $')'* /#) 9/. '++%#* /9 % )*$$*. /9 &%.%#$** 9/. 9'+%) %$/.'$'*+ T* %)''$ 0*.'/ 9/. $* .*'$ 9%')'$ '+ #$') A0.') 3", 2"12 T*9%')'$ '+ #/$ +*.*
(17) C.*'$ 9%')'$ .**'* ( OMV P*$./ SA 9./ B%#0/+$ SA, 0 $/ EUR 25"" '))'/#<*'%)*#$ /9 RON 1"7!! '))'/#=, $/ (* $')'* /#) 9/. '++%#* /9 )*$$*.+ /9 &%.%#$** T* 9%')'$'+ #/$ +*.*
(18) C.*'$ 9%')'$ 0 $/ USD 3"" '))'/# <*'%)*#$ /9 RON 1""2 '))'/#= /($%'#* ( OMVP*$./ SA 9./ RBS B%#; R/%#'% SA, $/ (* $')'* /#) 9/. '++%#* /9 )*$$*.+ /9 &%.%#$**, >'$%$.'$ %$* O$/(*. 28, 2"11 ($ >'$ $* 0/++'(')'$ /9 $')'%$'/# ( $%'$ /#+*#$ /9 $* 0%.$'*+ T*9%')'$ '+ #/$ +*.*
(19) T* .*'$ 9%')'$ 0 $/ EUR 56" '))'/# <*'%)*#$ /9 RON 241! '))'/#= /($%'#* ( P*$./ A'%$'/# SA 9./ R%'99*'+*# B%#; 9/. '++'#& /9 (%#; &%.%#$**+, 0./)/#&* #$') D**(*. 15,2"12
A+ %$ D**(*. 31, 2"11, P*$./ G./0 '+ '# /0)'%#* >'$ 9'#%#'%) /*#%#$+ +$'0)%$* ( $* )/%#%&.***#$+
P)*%+* .*9*. %)+/ $/ N/$* 34 9/. *$%')+ .*&%.'#& 9':* %# %.'%()* '#$*.*+$ .%$*+ /9 '#$*.*+$-(*%.'#& *($
15. OTHER FINANCIAL LIABILITIES
D/!' 31,2011 && %-a$ 1 =a' "?' 1 =a'
L'%(')'$'*+ 9./ *&* /#$.%$+ 152"6 152"6 -F'#%#* )*%+* )'%(')'$'*+ 72"6 1"4! 6157O$*. 9'#%#'%) )'%(')'$'*+ 4"358 31661 86!7
T"%a 425.50 957.14 196.9
D/!' 31,2010 && %-a$ 1 =a' "?' 1 =a'
F'#%#* )*%+* )'%(')'$'*+ 3"62 485 2577O$*. 9'#%#'%) )'%(')'$'*+ 44!86 2!725 15261
T"%a 960.96 302.10 156.36
La%& '"! -+> /"$%'a/%&
T/ 0./$*$ $* G./0’+ %+ 9)/> '# 2"12, OMV P*$./ SA *#$*.* '#$/ .* /') *&*+ 9/. % /)* /9 3",""" (()@ L'%(')'$'*+ 9./ *&* /#$.%$+ %.* %)* %$ $* %.;*$ %)* /9 RON 14263 '))'/# %+ %$D**(*. 31, 2"11 F.$*./.*, OMV P*$./ G%+ /#)* RON@USD %*.%&* .%$* 9/.>%. /#$.%$+9/. $* 0*.'/ N/*(*. 2"11 F*(.%. 2"12, %)* %$ $* %.;*$ %)* /9 RON !43 '))'/# %+ %$D**(*. 31, 2"11 <P)*%+* .*9*. %)+/ $/ N/$*+ 12 %# 33=
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
15. OTHER FINANCIAL LIABILITIES (/"$%$#+
F$a$/ a& a%&
P*$./ G./0 %'.* $./& 9'#%#* )*%+* %'#) %.+, $.;+ %# 0/>*. &*#*.%$/.+, >' %.* *)( OMV P*$./ SA, P*$./ A'%$'/# SA %# OMV P*$./ M%.;*$'#& SRL
A (.*%;/># /9 0.*+*#$ %)* /9 9'#%#* )*%+* )'%(')'$'*+ '+ 0.*+*#$* (*)/>
D/!' 31, D/!' 31,
O>a%"$& #$+' $a$/ a&&2011 2010
A/#$+ * >'$'# 1 *%. 146" 6!2 A/#$+ * %9$*. /.* $%# 1 *%. ($ #/$ )%$*. $%# 5 *%.+ 5647 163! A/#$+ * %9$*. 5 *%.+ 4!3" 4!54
T"%a a& ">a%"$& 120.35 52.6
L&& #%#' $a$/ /-a'>& "$ $a$/ a&& (96.31 (92.23
P'&$% ?a# " $a$/ a& a%& 52.04 30.42
Analysed as follows:M%$.'#& >'$'# 1 *%. 1"4! 485M%$.'#& %9$*. /.* $%# 1 *%. ($ #/$ )%$*. $%# 5 *%.+ 4523 !78M%$.'#& %9$*. 5 *%.+ 1634 15!!
T"%a *'&$% ?a# " $a$/ a& a%& 52.04 30.42
Ma%#'%= *'" " $a$/a a%&
T* $%()* (*)/> +%.'*+ $* %$.'$ 0./9')* /9 $* G./0+ 9'#%#'%) )'%(')'$'*+ (%+* /# /#$.%$%)#'+/#$* %+ 9)/>+?
1 =a' 18 =a'& =a'& T"%a
2011 3,05.4
I#$*.*+$-(*%.'#& *($+ 5563" 1,563"7 !5628T.%* 0%%()*+ 2,!8258 - - 2,762.6
O$*. 9'#%#'%) )'%(')'$'*+ 48326 1"576 !353 462.
T"%a 9,022.19 1,446.63 1,097.61 4,590.56
2010 9,94.2
I#$*.*+$-(*%.'#& *($+ 562!8 3,143!3 74!34T.%* 0%%()*+ 3,45335 - - 3,93.3
O$*. 9'#%#'%) )'%(')'$'*+ 3"413 1"3!3 12358 31.49
T"%a 9,320.94 3,295.64 652.72 6,991.29
3!
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
14. OTHER LIABILITIES
D/!' 31,2011 && %-a$ 1 =a' "?' 1 =a'
D*9*..* '#/* 1"281 1"281 -T%: )'%(')'$'*+ 4"875 4"875 -S/'%) +*.'$ 38!2 38!2 -O$*. )'%(')'$'*+ 61"8 61"8 -
T"%a 411.4 411.4 8
D/!' 31,2010 && %-a$ 1 =a' "?' 1 =a'
D*9*..* '#/* !3"6 !3"6 -
T%: )'%(')'$'*+ 27567 27567 -S/'%) +*.'$ 2781 2781 -O$*. )'%(')'$'*+ 8155 8155 -
T"%a 956.07 956.07 8
15. DEFERRED TAJ
D''+ %a)2011 a&&%& "' N% +''+ D''+ %a)
a"a$/& A"a$/& %a) a&&%& a%&
T%#&'()* %# '#$%#&'()* %++*$+ 17"!1 231" 14781 4"561F'#%#'%) %++*$+ 4562 - 4562 726I#*#$/.'*+ 54!5 - 54!5 173R**'%()*+ %# /$*. %++*$+ 821" 4286 3!24 -U#$%:* .*+*.*+ - - - 1464P./'+'/#+ 9/. 0*#+'/#+ %#
+**.%#* 0%*#$+ 3124 - 3124 -O$*. 0./'+'/#+ 77175 1""3 76172 -L'%(')'$'*+ 4!65 - 4!65 ""!T%: )/++ %..'* 9/.>%. !4"5 - !4"5 -
TOTAL 1,300.25 5.77 1,229.26 927.33
N*$$'#& <+%* $%: J.'+'$'/#@/#$.= <417"6= <417"6=
D''+ %a), $% 605.22 12.25D*9*..* $%: 9/. %++*$+ *)
9/. +%)* <+** N/$* 11= "56 - "56 -
D''+ %a), TOTAL 605.56 12.25
4"
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
17. DEFERRED TAJ (/"$%$#+
D''+ %a)2010 a&&%& "' N% +''+ D''+ %a)
a"a$/& A"a$/& %a) a&&%& a%&
T%#&'()* %# '#$%#&'()* %++*$+ !4"2 152 !25" 445!8F'#%#'%) %++*$+ 4885 2"8 4677 662I#*#$/.'*+ 5"25 - 5"25 -R**'%()*+ %# /$*. %++*$+ 783" 3!76 3854 -U#$%:* .*+*.*+ - - - 178!P./'+'/#+ 9/. 0*#+'/#+ %#
+**.%#* 0%*#$+ 4755 - 4755 -O$*. 0./'+'/#+ 77755 35"6 7424! -L'%(')'$'*+ 3546 - 3546 ""7T%: )/++ %..'* 9/.>%. 12441 - 12441 -
TOTAL 1,24.37 56.92 1,155.75 950.4
N*$$'#& <+%* $%: J.'+'$'/#@/#$.= <44386= <44386=
D''+ %a), $% 539.11 24.50D*9*..* $%: 9/. %++*$+ *)
9/. +%)* <+** N/$* 11= "38 - "38 -
D''+ %a), TOTAL 539.97 24.50
A$ $* *# /9 2"11, )/++*+ %..-9/.>%. 9/. $%: 0.0/+*+ %/#$* $/ RON 5"272 '))'/# <2"1"? RON
655!8 '))'/#= E)'&'(')'$ /9 )/++*+ 9/. %..-9/.>%. *:0'.*+ %+ 9/))/>+?
2"112011 2010
- 8"12"12 1675 25772"13 354 11"62"14 255 7282"15 14!5 71382"16@ A9$*. 2"15 3152 53248 A9$*. 2"16 43341 -
T"%a 02.52 4.76
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
16. OTHER OPERATING INCOMED/!' 31, D/!' 31,
2011 2010
E:%#&* &%'#+ 9./ /0*.%$'#& %$''$'*+ 1"4"5 14!48G%'#+ 9./ $* '+0/+%) /9 9':* %++*$+ 3672 3!"4.'$*-0 $%#&'()* %# '#$%#&'()* %++*$+ 363 548O$*. /0*.%$'#& '#/* 28811 31!85
T"%a 932.1 13.6
O$*. /0*.%$'#& '#/* '#)* +%)*+ /9 %.(/# *.$'9'%$*+ %/#$'#& $/ RON 676! '))'/# <2"1"? RON16832 '))'/#= %# .*%++*++*#$ /9 .*$'.**#$ 0./'+'/# /9 RON 1"274 '))'/# 9/))/>'#& %#&* '#0%.%*$*.+ %+ *+.'(* '# N/$* 13
17. OTHER OPERATING EJPENSESD/!' 31, D/!' 31,
2011 2010
E:%#&* )/++*+ 9./ /0*.%$'#& %$''$'*+ 12""2 1221"L/++*+ 9./ $* '+0/+%) /9 9':* %++*$+ 32"4 2"3!E:0*#+*+@ <I#/*= >'$ 0./'+'/#+ 9/. )'$'&%$'/#+ <347= 7187O$*. /0*.%$'#& *:0*#+*+ 1,25861 1,"656!
T"%a 1,905.20 1,260.0
O$*. /0*.%$'#& *:0*#+*+ '#)* %# %/#$ /9 RON 8"3 '))'/# '# 2"11 <2"1"? RON 12!28 '))'/#=.*0.*+*#$'#& .*+$.$.'#& *:0*#+*+ A)+/, /$*. /0*.%$'#& *:0*#+*+ 9/. $* *%. *#* D**(*. 31,2"11 '#)* %# %/#$ /9 RON 5"382 '))'/# .*0.*+*#$'#& $* 0./'+'/# 9/. $* 9'#* .**'* 9./R/%#'%# C/0*$'$'/# C/#') %# RON 12"17 '))'/# .*0.*+*#$'#& *+$'%$* /+$+ '# .*)%$'/# $/ A.0*' .*9'#*. 0*.%#*#$ )/+.*
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
20. EARNINGS BEFORE INTEREST AND TAJ PRESENTATION USING A CLASSIFICATION BASED ON
NATURE OF EJPENSES
A+ %$ D**(*. 31, 2"11 %# D**(*. 31, 2"1" *%.#'#&+ (*9/.* '#$*.*+$ %# $%: #*. $* $/$%) /+$
*$/ >*.* %+ 9/))/>+?
D/!' 31, D/!' 31,2011 2010
R?$#& 22,413.4 16,41.47
I#*#$/. %#&*+ <2"2!8= 828"O># >/.; %/#$* 9/. '# 9':* %++*$+ 475!3 24734O$*. /0*.%$'#& '#/* 42888 5"837
C/+$+ /9 %$*.'%) <7,8!728= <6,44114=C/+$+ /9 *#*.& <42623= <46""3=O$*. /+$+ /9 0./$'/# <2,17638= <2,1216"=
C"&% " !a%'a a$+ &'?/& (10,977.67 (7,022.55
%&*+ %# +%)%.'*+ <1,8""14= <1,83623=O$*. 0*.+/##*) *:0*#+*+ <12332= <24867=
P'&"$$ )*$&& (1,723.94 (2,069.70
D*0.*'%$'/# %# %/.$'%$'/# <2,3277!= <2,13"22=I0%'.*#$ $%#&'()* %# '#$%#&'()* %++*$+ <5"242= <6814"=
D*'/a%"$, a!"'%Ka%"$ a$+ !*a'!$% (2,630.21 (2,611.42
T.%#+0/.$%$'/# %# 0/+$%&* *:0*#+*+ <64884= <54262=R*#$%) *:0*#+*+ <22522= <218""= A*.$'+'#& %# 0./$//) *:0*#+*+ <7773= <758!=I#+.%#* *:0*#+*+ <4!!!= <4138=T.%*) *:0*#+*+ %# %') %))/>%#*+ <63"5= <5268=O$*. /0*.%$'#& *:0*#+*+ <2,"6133= <1,61883=
T"%a "%-' "*'a%$> )*$&& (3,124.14 (2,97.90
EARNINGS BEFORE INTEREST AND TAJ 9,73.54 2,76.1
21. INCOME FROM ASSOCIATED COMPANIES
D/!' 31, D/!' 31,2011 2010
I#/* 9./ %++/'%$* /0%#'*+ "26 443D''*#+ 9./ %++/'%$* /0%#'*+ 286 22!
T"%a $/"! '"! a&&"/a%+ /"!*a$& 3.12 4.52
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
29. TAJES ON INCOME
D/!' 31, D/!' 31,2011 2010
T%:*+ /# '#/* - ..*#$ *%. !"!83 5"144D*9*..* $%: <5!86= <8577=
T"%a %a)& "$ $/"! 697.75 91.45
T* .*/#')'%$'/# /9 *9*..* $%:*+ '+ %+ 9/))/>+?
D/!' 31, D/!' 31,2011 2010
D*9*..* $%:*+ %#%. 1 7"77! 65474D*9*..* $%:*+ D**(*. 31 7!551 7"77!
C-a$>& $ +''+ %a)& 65.52 3.0
D*9*..* $%:*+ /# .*%)%$'/# /9 +*.'$'*+ %#*&*+ %.&* '.*$) $/ *'$ 243" <344"=
C%#&*+ '# /#+/)'%$* G./0, *:%#&*'99*.*#*+ %# +'')%. '$*+ 356 168
D''+ %a)& *' $/"! &%a%!$% 7.64 6.55
R/"$/a%"$
N% *'"% "' %a)a%"$ 9,406.7 2,40.32
I#/* $%: .%$* %00)'%()* 9/. P%.*#$ /0%# 16"" 16""P'"%& %a) a&+ "$ $/"! %a) 'a% " %- Pa'$% 535.35 914.6E99*$ /9 '99*.'#& 9/.*'&# $%: .%$*+ <13!1= <61"!=
P./9'$+ $%: (%+* /# %00)'%()* .%$*+ 72346 35576T%: *99*$ /9 0*.%#*#$ '99*.*#*+ 12651 5!!1
P'"%& %a) )*$& $ I$/"! S%a%!$% 697.75 91.45
P*.%#*#$ '99*.*#*+ '# 2"11 >*.* &*#*.%$* %'#) ( $* 9'#* '0/+* ( R/%#'%# C/0*$'$'/#C/#') $/ OMV P*$./ SA %# $/ OMV P*$./ M%.;*$'#& SRL <N/$* 1!= %# ( $* '0%'.*#$ /9 $* )$; *:0)/.%$'/# )'*#+* '# %%;+$%# <N/$* 5=
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
25. EARNINGS PER SHARE
C%))%$'/# /9 *%.#'#&+ 0*. +%.* '+ (%+* /# $* 9/))/>'#& %$%?
D/!' 31, D/!' 31,2011 2010
N*$ 0./9'$ %$$.'($%()* $/ /># +%.*/)*.+ 3,75675 2,2"122*'&$* %*.%&* #(*. /9 +%.*+ 56,643,!"3,55! 56,641,""!,185
Ea'$$>& *' &-a' 0.0443 0.0367
T* (%+' %# ')$* *%.#'#&+ 0*. +%.* %.* $* +%* %+ $*.* %.* #/ '#+$.*#$+ $%$ %* % ')$'**99*$ /# *%.#'#&+
A$ $* A##%) G*#*.%) M**$'#& *) /# A0.') 26, 2"11, $* +%.*/)*.+ /9 OMV P*$./ SA %00./*
$* '+$.'($'/# /9 ''*#+ 9/. $* 9'#%#'%) *%. 2"1" 9/. $* %/#$ /9 RON 1,""3 '))'/#, .*+)$'#& '#$/% ''*# 0*. +%.* /9 ""177 RON
26. SEGMENT INFORMATION
OMV P*$./ '+ /.&%#'* '#$/ 9/. /0*.%$'#& +*&*#$+? E:0)/.%$'/# %# P./$'/# <EP=, G%+ %#P/>*. %# R*9'#'#& %# M%.;*$'#& >')* P*$./ G./0 %#%&**#$, 9'#%#'#& %$''$'*+ %# *.$%'#+*.'* 9#$'/#+ %.* /#*#$.%$* '# $* C/.0/.%$* O$*. +*&*#$
P*$./ G./0’+ '#/)**#$ '# $* /') %# &%+ '#+$., ( '$+ #%$.*, *:0/+*+ '$ $/ *.$%'# .'+;+ T*+*'#)* 0/)'$'%) +$%(')'$, */#/' /#'$'/#+, %#&*+ '# )*&'+)%$'/# /. 9'+%) .*&'*+, %+ >*)) %+ /$*. /0*.%$'#& .'+;+ '#*.*#$ '# $* '#+$. + %+ $* '& /)%$')'$ /9 .* 0.'*+ %# US /))%. A %.'*$
/9 *%+.*+ %.* +* $/ %#%&* $*+* .'+;+
A0%.$ 9./ $* '#$*&.%$'/# /9 P*$./ G./0’+ 0+$.*% %# />#+$.*% /0*.%$'/#+, %# $* 0/)' /9 %'#$%'#'#& % (%)%#* 0/.$9/)'/ /9 %++*$+ '# $* EP +*&*#$, $* %'# '#+$.*#$+ +* %.* /0*.%$'/#%)'# #%$.* T*.* '+ % G./0->'* *#'./#*#$%) .'+; .*0/.$'#& ++$* '# /0*.%$'/#, *+'&#* $/ '*#$'9*:'+$'#& %# 0/$*#$'%) /()'&%$'/#+ %# $/ *#%()* $'*) %$'/# $/ (* $%;*# I#+.%#* %# $%:%$'/# %.* %)+/*%)$ >'$ /# % G./0->'* (%+'+
R*&)%. +.*+ %.* #*.$%;*# %./++ P*$./ G./0 $/ '*#$'9 ..*#$ )'$'&%$'/# %# 0*#'#& /.$ %#%'#'+$.%$'* 0./**'#&+
B+'#*++ *'+'/#+ /9 9#%*#$%) '0/.$%#* %.* %* ( $* E:*$'* B/%. /9 OMV P*$./ SAT* (+'#*++ +*&*#$+ %.* '#*0*#*#$) %#%&*, %+ *% .*0.*+*#$+ % +$.%$*&' #'$ >'$ '99*.*#$
0./$+ %# %.;*$+
EP %$''$'*+ %.* %'#) 9/+* /# R/%#'% %# %%;+$%# I# R/%#'%, OMV P*$./ SA '+ $*/#) .* /') 0./*. EP 0./$+ %.* .* /') %# #%$.%) &%+
Ga& (+'#*++ #'$ %+ $* /(J*$'* $/ 9/+ /# &%+ +%)*+ %# /# $* (*+$ +* /9 $* 0/$*#$'%) %#/00/.$#'$'*+ .*+)$'#& 9./ $* %.;*$ )'(*.%)'%$'/# B+'#*++ ''+'/# P"' '+ % #*>) *+$%()'+*(+'#*++ >'$ $* 0.0/+* /9 '*.+'9'#& $* %$''$ /9 OMV P*$./ SA '# $* R/%#'%# *#*.& +*$/.
RM 0./*+ %# *)'*.+ &%+/)'#*, '*+*) %# /$*. 0*$./)* 0./$+ $/ '$+ +$/*.+ R$$>''+'/# '#)*+ $>/ R/%#'%# .*9'#*.'*+, A.0*' %# P*$./(.%' I# M%. 2"11 OMV P*$./ SA%##/#* $* 0*.%#*#$ )/+.* /9 $* A.0*' .*9'#*. Ma';%$> ''+'/# *)'*.+ 0./$+ $/ (/$R*$%') %# /)*+%)*+ +$/*.+ %# /0*.%$*+ '# R/%#'%, B)&%.'%, S*.('% %# M/)/% OMV P*$./
SA '+ $* %'# 0)%*. /# $* R/%#'%# 9*)+ %.;*$
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
26. SEGMENT INFORMATION (/"$%$#+
O*'a%$> &>!$%&
R$$> C"'*"'a% C"$&"+a%+
D/!' 31, 2011 EP Ga& P"' Ma';%$> O%-' T"%a C"$&"+a%"$ %"%a
I#$*.+*&*#$ +%)*+ 11,1721" 43624 161!6 576!1 12,395.21 (12,395.21 8
S%)*+ >'$ $'. 0%.$'*+ 57134 3,1!"68 18,7!516 5647 22,413.4 - 22,413.4
T"%a &a& 11,593.99 3,424.72 16,75.12 433.36 39,740.64 (12,395.21 22,413.4
EBIT ,234.32 196.69 (165.35 (56.76 ,116.62 (163.04 9,73.54
T/$%) %++*$+ 18,716"1 2,!3"!6 5,"7!"4 72!25 25,9.24 - 25,9.24I#*+$*#$+ '# PPE@IA 3,5751! 6114! 1,""31" 51"7 ,290.6 - ,290.6D*0.*'%$'/# %# %/.$'%$'/# 1,731"8 1716 475"3 1"452 2,325.57 - 2,325.57
I0%'.*#$ )/++*+ 41"14 - 8!31 2!7 02.92 - 02.92
I$"'!a%"$ a"#% >(">'a*-/a a'(a&CC"$&"+a%+
D/!' 31, 2011 R"!a$a R&% " CEE R&% " "'+ C"$&"+a%"$ %"%a
S%)*+ >'$ $'. 0%.$'*+ 17,41127 4,2!135 !11"3 - 22,61365T/$%) %++*$+ 25,"5"77 1,"3"37 1,37412 27,45526I#*+$*#$+ '# PPE@IA 5,"1"38 7447 156"" - 5,24"85
S%)*+ >'$ $'. 0%.$'*+ %* '# R*+$ /9 CEE '#)* +%)*+ %* '# B)&%.'% %/#$'#& $/ RON 2,!3!46 '))'/# '# 2"11 <2"1"? RON 2,373"8 '))'/#=
T* ;* 9'&.* /9 /0*.%$'#& 0*.9/.%#* 9/. P*$./ G./0 '+ *%.#'#&+ (*9/.* '#$*.*+$ %# $%: <EBIT= I# /0')'#& $* +*&*#$ .*+)$+, (+'#*++ %$''$'*+ >'$+'')%. %.%$*.'+$'+ %* (**# %&&.*&%$* I#$.%-G./0 +%)*+ %# /+$ %))/%$'/#+ ( $* 0%.*#$ /0%# %.* *$*.'#* '# %/.%#* >'$ '#$*.#%) &./00/)''*+ M%#%&**#$ '+ /9 $* /0'#'/# $%$ $* $.%#+9*. 0.'*+ /9 &//+ %# +*.'*+ *:%#&* (*$>**# +*&*#$+ /..*+0/# $/ %.;*$ 0.'*+
= I#$%#&'()* %++*$+ <IA=, 0./0*.$, 0)%#$ %# *'0*#$ <PPE== S%)*+ %.* %))/%$* 0*. /#$.'*+@.*&'/#+ (%+* /# $* )/%$'/# >*.* $* .'+;+ %# (*#*9'$+ %.* $.%#+9*..* $/ $* +$/*.
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
26. SEGMENT INFORMATION (/"$%$#+
O*'a%$> &>!$%&
R$$> C"'*"'a% C"$&"+a%+
D/!' 31, 2010 EP Ga& P"' Ma';%$> O%-' T"%a C"$&"+a%"$ %"%a
I#$*.+*&*#$ +%)*+ 8,86174 1856! 12631 4857" 7,47.99 (7,47.99 8
S%)*+ >'$ $'. 0%.$'*+ 67266 2,87!68 15,"5"18 1317 16,41.47 - 16,41.47
T"%a &a& 7,39.90 3,04.35 1,154.97 976.65 26,25.13 (7,47.99 16,41.47
EBIT 3,012.12 143.6 104.30 (13.96 3,194.57 (141.26 2,76.1
T/$%) %++*$+ 17,6"4!1 2,"1625 4,657"6 86842 2,194.49 - 2,194.49I#*+$*#$+ '# PPE@IA 3,"215" 1,2"7!8 782"2 15433 ,14.63 - ,14.63D*0.*'%$'/# %# %/.$'%$'/# 1,57""8 554 433!4 12"66 2,130.22 - 2,130.22
I0%'.*#$ )/++*+ 52"7! 163 15345 553 461.90 - 461.90
I$"'!a%"$ a"#% >">'a*-/a a'a&C"$&"+a%+
D/!' 31, 2010 R"!a$a R&% " CEE R&% " "'+ C"$&"+a%"$ %"%a
S%)*+ >'$ $'. 0%.$'*+ 14,48418 3,5"764 62387 - 18,6156!T/$%) %++*$+ 22,5!748 1,""!58 1,53!5! - 25,14664I#*+$*#$+ '# PPE@IA 4,7!816 653! 3"228 - 5,16583
= I#$%#&'()* %++*$+ <IA=, 0./0*.$, 0)%#$ %# *'0*#$ <PPE== S%)*+ %.* %))/%$* 0*. /#$.'*+@.*&'/#+ (%+* /# $* )/%$'/# >*.* $* .'+;+ %# (*#*9'$+ %.* $.%#+9*..* $/ $* +$/*.
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
27. AVERAGE NUMBER OF EMPLOYEES
D/!' 31, D/!' 31,2011 2010
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
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S.C. OMV PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
28. RELATED PARTIES (/"$%$#+
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20 AS OF DECEMBER 31, 2011
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S.C. PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
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S.C. PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
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S.C. PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
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S.C. PETROM S.A. AND SUBSIDIARIES
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FOR THE YEAR ENDED DECEMBER 31, 2011
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S.C. PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
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S.C. PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
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S.C. PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
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S.C. PETROM S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2011
(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+
34. RIS MANAGEMENT (/"$%$#+
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P*$./ G./0 /*+ #/$ %* %# +'&#'9'%#$ .*'$ .'+; /#*#$.%$'/# *:0/+.* $/ %# +'#&)* /#$*.0%.$/. %# &./0 /9 /#$*.0%.$'*+ %'#& +'')%. %.%$*.'+$'+ P*$./ G./0 *9'#*+ /#$*.0%.$'*+ %+%'#& +'')%. %.%$*.'+$'+ '9 $* %.* .*)%$* *#$'$'*+
L<#+%= '&; !a$a>!$%
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35. SUBSE:UENT EVENTS
O# %#%. !, 2"12, OMV P*$./ SA %##/#* %'#& +$%.$* *:0)/.%$'/# .'))'#& /# D/'#/-1, $*
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O# M%. 16, 2"12, OMV B)&%.'% OOD %+ (**# #/$'9'* 0/# '#9.'#&**#$ /9 $* /0*$'$'/# .)*+ ($* B)&%.'%# C/0*$'$'/# C/#') OMV B)&%.'% OOD %+ (**# 0./'* 3" %+ $/ 0./'* >.'$$*#%.&*#$+ %# *'*#* A$ $* %$* /9 $*+* 9'#%#'%) +$%$**#$+, >* %.* #/$ %()* $/ *%)%$* $*/$/* /9 $'+ '#*+$'&%$'/# %# >* ' #/$ .*/. %# 0./'+'/#