OMV Petrom S.
OMV Petrom S.A. is a Romanian integrated oil company, the largest corporation in
Romania and the largest oil and gas producer in Southeast Europe. It is a subsidiary of OMV.
In late 2004, Petrom was privatized by the Romanian state and sold to Austrian oil company
OMV. As of 2005, it was the largest privatization deal in Romania's history
Until 2005, Petrom owned six offshore drilling platforms, of which five, GSP Atlas, GSP
Jupiter, GSP Orizont, GSP Prometeu and GSP Saturn were sold to Grup Servicii Petroliere for
US$100 million.
In January 2006, Petrom purchased OMV's operations in Romania, Bulgaria and Serbia and
Montenegro. As a result of the transaction, 178 OMV stations were transferred to Petrom, but
continued to operate under the OMV brand
From 1 January 2010, the company changed its name to OMV Petrom.
In April 2010, OMV Petrom expanded the portfolio of its projects, in terms of electricity
production, through the acquisition of 100% of the SC Wind Power Park SRL, a developer of
the Dorobanţu Wind Farm
On May 18, 2010, OMV Petrom announced the conclusion of an offshore campaign in the
Lebăda Est and Lebăda Vest fields, located at the Histria block in the Black Sea. Following
this offshore campaign, additional production of more than 300,000 boe was expected in
2010, from two existing wells (LO2 and LO4) and a new well drilled (LV05).
On June 1, 2010, OMV Petrom announced the start-up of the Hurezani gas delivery system, a
project intended to optimize gas delivery into the national transportation network in periods
when pressure in the system was very high.[
On July 12, 2010, OMV Petrom announced the signing of a 15-year production enhancement
contract for several fields in the area of Țicleni, Southwest Romania, with Petrofac, a leading
international provider of facilities solutions to the oil and gas production and processing
industry. Petrofac will perform services in the respective fields in order to maximize
production while improving operational efficiency. The partnership targets cumulative
production enhancement out of nine onshore fields in the Țicleni area by at least 50% in the
next five years.
On September 6, 2010, OMV Petrom announced the sale of the 74.9% stake in Ring Oil
(Russia) to its minority partner Mineral and Bio Oil Fuels Limited (MBO).
From October 1, 2010, OMV Petrom has completed the consolidation of marketing activities
in Romania in a single entity, OMV Petrom Marketing SRL.
On December 2, 2010, OMV Petrom inaugurated Petrom City, the headquarters that hosts the
company's central operations. Situated in the northern part of Bucharest, it will be used by
around 2,500 employees from 7 headquarters of the company in Bucharest and Ploiești. The
employee relocation process started in the fourth quarter of 2010 and was estimated to be
finalized in the first half of 2011.
In 2010, OMV Petrom inaugurated the Hurezani gas delivery system, designed to optimize
gas supply to the national transport network. The system included a new compressor station at
Bulbuceni, and 11.5 kilometres (7.1 mi) of new pipe station. There was a new measurement
system of the gas delivery point Hurezani, to adapt to changing parameters of the gas flow
and pressure. The total investment budgeted amounted to about 135 million euros
OMV Petrom Strategy Update 2021+ Sustainable access to energy for every day modern
life
Strategy Update 2021+ builds on the strong foundation of the 2012 - 2016 performance to
deliver sustainable value creation and attractive shareholder returns. Leveraging its Romanian
skills and expertise, OMV Petrom is committed to maintain and strengthen its position as a
leading energy player in the region, ensuring its long-term growth, focusing on opportunities
that Romania still offers while enhancing customer experience and developing its portfolio
through regional expansion.
The strategy will drive performance through three key pillars:
Enhancing competitiveness in the existing portfolio
Developing growth options
Regional expansion
With a clearly defined execution plan, the strategy will address the sustainability of the
reserve base, target the maximization of operational efficiency and explore opportunities
along the value chain, preparing the company for new developments in the energy sector.
Strategy implementation will ensure improved profitability while maintaining a strong
balance sheet and offering attractive shareholder returns.
Success of the strategy is fueled by three enablers:
People and Organizational Culture
Sustainability
Technology and Innovation
OMV Petrom Upstream portfolio & locations
OMV Petrom Upstream has operations in Romania and Kazakhstan, with a solid safety
record. In 2017, daily production was 168 kboe/day. We aim to expand our portfolio through
regional expansion.
Production in Romania
We operate ~ 200 commercial oil and gas fields, most of them onshore. We also have
offshore operations in the shallow waters of the Black Sea, in Romania. In 2017, the average
oil and gas production in Romania was 160.6 kboe/day.
Key figures
~200
Fields
>7,000
Producing wells
~700
Production facilities
~12,000 KM
Pipelines
Our production infrastructure includes thousands of wells, kilometers of pipelines and
hundreds of oil and gas facilities: oil & gas processing plants, tank farms, gathering &
compressors stations located in our assets.Our portfolio is quite diverse.
Wells’ depths: The deepest well in our portfolio was drilled 7,000 meters below
ground (7000 Baicoi, in Baicoi area, Prahova county). We also have wells which have
a depth below 200 meters.
Wells’ productivity: We have in our portfolio a wide range of wells in terms of
productivity, from thousands of wells with a daily production below 5 boe/day up to
more than 8,000 boe/day (2017 average) for our best producing well.
We have entered partnerships with international companies for 24 mature fields in PECs
(Production Enhancement Contracts). While OMV Petrom continues to be titleholder, our
partners operate those fields aiming to maximize production while improving efficiency. In
2016, we have also started experimental production from a new discovery in Padina (Buzau),
under a Joint Operation Agreement with Hunt Oil.
