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OMV Petrom sells 60 oil fields in Romania
17 November 2017, 12:59 PM

By Jerom Bolt

OMV Petrom, the largest oil and gas producer in Southeastern Europe, continues to sell assets from its portfolio this year. According to Mariana Gheorghe, OMV Petrom's general manager, in the next period, will abandon 50-60 oil fields with low profitability.
The company has launched market research and says there is interest in these deposits.
"This process has begun, several companies have shown their interest. We will see and what the market wants. It's a lengthy process, it's a big volume and we do not want to give time, "added Mariana Gheorghe.
Depending on what investors will say, assets will be created, says Mariana Gheorghe.
OMV Petrom's net profit grew by 111% in the first nine months, to 1.85 billion lei, from 878 million lei in January-September 2016, while total sales increased by 20%, to 14.29 billion lei.
The company's investments fell by 5% in the first nine months, to 1.72 billion lei, from 1.81 billion lei in the same period last year.
OMV Petrom had about 13,900 employees at the end of September, 7% less than in the same period of the previous year.
It is the largest petroleum group in Romania, with an annual oil and gas production of about 64 million boe in 2016.
The Group has a refining capacity of 4.5 million tons a year and operates a high efficiency power plant of 860 MW.
On the petroleum products distribution market, OMV Petrom is present on the Romanian and neighboring markets through 783 gas stations at the end of 2016 under two brands, OMV and Petrom.

: 0 : : 0.0/0 Tags: oil fields, Petrom, OMV, Mariana Gheorghe, romania
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