Stavanger, Norway, 26 October 2011: Gerhard Bauer, a senior manager with the Austrian OMV Group before, is now Managing Director of LOTOS Exploration & Production Norge AS.

The Austrian Gerhard Bauer has about 25 years of experience in the Oil & Gas industry.

From 2008 till 2010 Gerhard Bauer was General Director (CEO) of the OMV Petrom Kazakhstan company Kom Munai. He successfully finalized the development of the Komsomolskoe oil field in the very remote Caspian region and grew it from a ‘project’ to an oil company producing its technical capacity.

Before that he managed the OMV operated gas field Sawan in Pakistan with a sales gas capacity of 65,000 boe/day.

A petroleum engineer by education, Gerhard Bauer’s European work experience includes assignments in exploration and production of oil and gas, gas storage, and research, in Austria, Germany, Denmark and the Netherlands.

Henrik Carlsen, preceding Managing Director since LOTOS E&P Norge’s founding in 2007, will continue to be part of the further development of the company as member of the LOTOS E&P Norge’s Board of Directors.

LOTOS E&P Norge has achieved 3 operator ships in exploration licenses and will drill its first operated exploration well in 2012. It holds a 20% interest in the Yme development and will expand its activities on the Norwegian Continental Shelf, both through licensing and acquisitions.