21 May 2019 11:09
OMV Petrom S.A.
Investor News
May 21, 2019
OMV Petrom completed the modernization of the
fuels terminal in Arad
► Investment of approx. 19 million euro for the modernization of the terminal in Arad
► The company has invested approximately 145 million euro since 2007 to upgrade fuel storage and delivery infrastructure in Romania
OMV Petrom completed the modernization of the Arad fuels terminal, the largest in West Romania and the second largest in the country. The project required investment of approximately 19 million euro. The Arad terminal has a storage capacity of over 32,000 cubic meters, equivalent to over 550,000 car refuels. The storage terminal addresses mainly fuel demand in the counties in the West of Romania - Arad, Bihor, Timis and Hunedoara.
"With the modernization of the Arad fuel storage, we successfully complete the optimization program for our fuel storage infrastructure. The program aimed to concentrate operations in six large-size terminals across the country and required investments of around 145 million euros over the last 12 years", said Radu Căprău, member of the OMV Petrom Executive Board responsible for Downstream Oil.
The Arad terminal is one of the most modern and safest fuels terminals in Europe, using the best available international technologies in the field. The terminal, which covers an area of over 50,000 square meters, is equipped with 5 fuel tanks which were modernized. Within the project, modern technologies were implemented including automated management and automated fuel deliveries, as well as the best available systems for fire protection and reducing the environmental impact.
Construction works included the modernization of 5 large fuel storage tanks, the installation of almost 12 kilometers of new pipelines, the casting of approximately 6,500 cubic meters of concrete and modernization works for 2 kilometers of railroad serving the terminal.
The program to optimize OMV Petrom's fuel storage infrastructure was launched in 2007 and required investment of around 145 million euro. Within the program, three new terminals were built at Jilava, Brazi and Isalnita and three other terminals were modernized - in Bacau, Cluj and Arad. They have a cumulated capacity of 119,000 cubic meters and they cover geographically the entire territory of Romania in order to meet the country's mobility needs.
About OMV Petrom
OMV Petrom is the largest energy company in South-Eastern Europe, with an annual Group hydrocarbon production of 58.3 million boe in 2018. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through 792 filling stations, at the end of March 2019, under two brands - OMV and Petrom.
OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.011% stake in OMV Petrom. The Romanian State, through the Ministry of Energy, holds 20.639% of OMV Petrom shares, Fondul Proprietatea holds 9.998%, and 18.352% is the free float on the Bucharest Stock Exchange and the London Stock Exchange.
OMV Petrom is the largest contributor to the state budget, with contributions of 27.8 billion euro in taxes and dividends paid between 2005 and 2018. Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007-2018, the company has allocated approximately 52.5 million euro to develop communities in Romania, focusing on environmental protection, education, health and local development.
Contact:
OMV Petrom Investor Relations
Tel: +40 372 161930, Fax: +40 372 868518
E-mail: investor.relations.petrom@petrom.com