Petro Welt Technologies AG: Considerations for the termination of the joint venture in Oman

DGAP-Ad-hoc: Petro Welt Technologies AG / Key word(s): Strategic Company Decision Petro Welt Technologies AG: Considerations for the termination of the joint venture in Oman 31-March-2022 / 19:40 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Vienna, March 31, 2022 During their meeting on March 31, 2022 in Vienna, the Supervisory Board members of Petro Welt Technologies AG decided to reconsider the Company's activities under an existing joint venture in Oman and to evaluate measures to terminate the business activities. In the future, the Company intends to primarily focus on business in its core markets. About Petro Welt Technologies AG Petro Welt Technologies AG, domiciled in Vienna, is one of the leading and first established oilfield services companies in Russia and the CIS and is specialized in services which increase the productivity of new as well as existing oil and gas formations. Contact Konstantin Huber (Male Huber Friends) Investor Relations T: [phone] [e-mail] 31-March-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language:	English
Company:	Petro Welt Technologies AG
	Kärntner Ring 11-13
	1010 Vienna
	Austria
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.pewete.com
ISIN:	AT0000A00Y78
WKN:	A0JKWU
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1317383

End of Announcement	DGAP News Service

1317383  31-March-2022 CET/CEST