Petrom, the only Romanian producer of oil and gas, is the company on whose exploration and production budgets depends the business of many companies that deliver equipment and services for the industry. "The events in Libya shaved 10% off OMV's hydrocarbon production base just like that. Under the circumstances, it is to be expected that the group will invest more in exploration and production in the regions where it has such activities, which include Romania, in order to cover this deficit somehow. The big money is made from exploration and production, not from refining," says Peter Grobmueller, CEO of the division oil and gas within Siemens. The German group has several contracts with Petrom, with one contract involving maintenance work within Petrobrazi refinery, the only facility of the two held by the oil and gas producer to still be working. (source Z.F.)
Access Investments-Building Awareness - European Union-ROMANIA
Friday, March 25, 2011
Petrom, the only Romanian producer of oil and gas, is the company on whose exploration and production budgets depends the business of many companies that deliver equipment and services for the industry. "The events in Libya shaved 10% off OMV's hydrocarbon production base just like that. Under the circumstances, it is to be expected that the group will invest more in exploration and production in the regions where it has such activities, which include Romania, in order to cover this deficit somehow. The big money is made from exploration and production, not from refining," says Peter Grobmueller, CEO of the division oil and gas within Siemens. The German group has several contracts with Petrom, with one contract involving maintenance work within Petrobrazi refinery, the only facility of the two held by the oil and gas producer to still be working. (source Z.F.)
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