History

1935:

Foundation of Rohöl-Gewinnungs AG. Acquisition of prospecting rights in Lower Austria.

1937:

RAG 2 is the first drilling well to discover oil in Zistersdorf, Lower Austria

1946:

Under the Federal Act of July 26th, all crude oil companies including RAG are nationalized.

1955:

The Vienna Memorandum signed on May 10th, 1955 returns the shares to RAG’s former shareholders. Four hydrocarbon exploration and production contracts are concluded between the Republic of Austria and RAG; spud-in at Puchkirchen 1 (Upper Austria).

1956:

The Puchkirchen 1 well is onstream – Upper Austria becomes an oil province.

1968:

Maximum annual oil production of RAG (419,118 tons).

1977:

Maximum annual gas sales from RAG’s production (879,726,000 m³).

1978:

Opening of tank farm in Kremsmünster/Krift, Upper Austria, for compulsory crude oil storage.

1991:

Production of 100 millionth ton of oil in Austria; RAG’s share is 13 million tons. First gas produced in the federal province of Salzburg (Berndorf 1).

1992:

Rohöl-Aufsuchungs Ges.mbH is transformed into a public company. EVN Energie-Versorgung Niederösterreich AG acquires 50 % of the share capital. Mobil Oil Austria AG and Shell Austria AG hold 25 % each, Mobil continues to be operator.

1993:

EVN transfers its shares to RAG-Beteiligungs AG. Bayernwerke AG (now E.ON Energie AG) acquires 40 %, Salzburg AG für Energie, Verkehr und Telekommunikation and Steirische Ferngas AG each acquire 10 % of the shares of RAG-Beteiligungs AG.

1995:

Startup of the expanded underground storage facility at Puchkirchen with a total working gas volume of 500 million cubic metres.

1997:

With the ”Salzach-Inn” exploration licence in Bavaria, RAG is granted its first concession outside of Austria. Largest gas field found in the Austrian Molasse zone (Haidach).

1998:

Mobil Oil Austria sells its 25 % share to RAG Holding AG, whose owners and shares are identical with those of RAG Beteiligungs-AG. Shell International E & P takes over operatorship.

2001:

First gas sales to Italy and Germany.

2002:

In October, liberalisation of the Austrian gas market enters into force. RAG acts as an independent balance group in this restructured gas market.
Expansion of the Puchkirchen underground gas storage to hold 700,000 m3 of natural gas.

2003:

First international joint venture in the Chiemgau concession area concluded with Wintershall.

2005:

Start of the largest project in RAG's history: The Haidach underground gas storage facility.

2006:

In this year, RAG commissions the most extensive seismic surveys in Europe (more than 600 km²).

2007:

Opening of the Haidach underground gas storage facility
Expansion of Puchkirchen underground gas storage site to provide a withdrawal capacity of 400,000 m³

2008:

Start of final expansion of the Puchkirchen site to provide a gas storage volume of 1.1 million m3 and a withdrawal capacity of 500,000 m³
Start of storage expansion under the 7Fields project, stage I; startup scheduled for April 2011
Development, purchase and startup of E 200 drilling rig

2009:

Foundation of wholly-owned subsidiary RAG Hungary by acquiring Toreador Hungary
Acquisition of 26 % of shares in shale gas project in Poland
Start of expansion of Aiglesbrunn storage site; completion scheduled for April 2011
Development, purchase and startup of E202 drilling rig
Participation of RAG Austria in new Austrian natural gas exchange.