Investment for new unit amounts to approximately EUR 40 mn
EUR 600 mn modernization program of Petrobrazi refinery to
be completed in 2014
OMV Petrom, the largest oil and gas producer in Southeastern
Europe, commissioned in July a new unit for gas
desulfurization within the Petrobrazi refinery, as part of
the modernization program initiated in 2010. The new unit
determines a reduction in the refinery polluting emissions,
in line with European levels, thus contributing to a cleaner
environment. In addition, the new unit will have a positive
impact on the energy efficiency of the refinery.
Neil Anthony Morgan, member of OMV Petrom Executive Board
responsible for Refining and Marketing: "The
modernization program of Petrobrazi refinery steadily
approaches its completion. One of the main objectives of the
modernization was already achieved with the capacity
adjustment that enables the refinery to efficiently process
the entire amount of crude oil produced by our exploration
and production division in Romania. In addition, we also aim
to increase the middle distillates yield, while having a
modern European refinery fully compliant to EU environmental
standards. And the desulfurization unit is an important step
in this direction."
The project to implement a new desulfurization unit started
at the end of 2010 and entailed investments of approximately
EUR 40 mn.
For the modernization and efficiency increase of Petrobrazi
refinery, OMV Petrom has foreseen in its budget investments
of approximately EUR 600 mn. Around EUR 500 mn have already
been invested until now.
Another stage of the modernization process of Petrobrazi
refinery was marked in January 2013, when the Coker unit
modernization was completed following an investment of around
EUR 45 mn.
The next steps consist of expanding the capacity of gas oil
hydro treating unit and fluid catalytic cracker unit as the
last stage in the efficiency increase process of the refinery
and improvement of white products yield.
OMV Petrom is the largest oil and gas group in South-eastern
Europe, with activities in the business segments of
Exploration and Production, Gas and Power as well as Refining
and Marketing. The Group consolidated its position on the oil
market in South-eastern Europe following a far-reaching
modernization and efficiency increase process whereas
investments accounted for more than EUR 8.8 bn during the
last eight years.
As of the end of 2012, the Group exploited proved oil and gas
reserves of approximately 775 mn boe in Romania and
Kazakhstan (thereof 750 mn boe in Romania). With a maximum
annual refining capacity of 4.2 mn t, OMV Petrom is present
in the distribution market for oil products in Romania, the
Republic of Moldova, Bulgaria and Serbia through a network of
approximately 800 filling stations, operated under two
brands, Petrom and OMV. In Romania, this activity is
performed through OMV Petrom Marketing, 100% owned by OMV
For its sustainable development, OMV Petrom has expanded the
gas value chain into power. In this context, OMV Petrom
operates a 860 MW gas fired power plant at Brazi and a 45 MW
wind park at Dorobantu.
In 2012, the Group's turnover was EUR 5,891 mn, EBIT was EUR
OMV, Austria's largest listed industrial company holds a
51.01% share in OMV Petrom. In Exploration and Production,
OMV is active in two core countries Romania and Austria and
holds a balanced international portfolio. In Gas and Power,
OMV sold approximately 437 TWh of gas in 2012. In Refining
and Marketing, OMV has an annual refining capacity of 22 mn t
and approximately 4,400 filling stations in 13 countries
including Turkey as of the end of 2012.
The Ministry of Economy holds 20.64% of OMV Petrom shares,
the Property Fund holds 18.99%, the European Bank for
Reconstruction and Development 1.62% and 7.74% is free float
on the Bucharest Stock Exchange.