7 Oct 2022 09:06
OMV Petrom S.A.
Investor News
7 October 2022
OMV Petrom continues to invest in modernizing Petrobrazi refinery
► Investments of approximately EUR 70 million for the replacement of the four coke drums
► Installations arrived at the refinery with two oversized transports of around 800 tons
OMV Petrom, the largest integrated energy company in South-Eastern Europe, has successfully completed the transportation of four coke drums to Petrobrazi refinery. These will become operational in 2023, replacing the current ones, which have been operating since 1989. The project to replace the coke drums was initiated in 2020. Approximately EUR 25 million have been invested so far, while total investments amount to EUR 70 million.
Radu Căprău, member of the OMV Petrom Executive Board responsible for the Refining and Marketing activity: "Replacing the coke drums is an essential project for Petrobrazi refinery, improving the efficiency and safety of our operations. The coke drums will be replaced during the 2-month general turnaround planned for the first half of 2023."
The coke drums play an essential role in the refining process, ensuring, at high temperatures, the transformation of the heavy components into superior products. The weight of a coke drum is almost 200 tons, the diameter is about 6 meters, and the height of about 30 meters.
The coke drums were produced in Romania, in Bucharest. The transport of the four coke drums was carried out in two stages, in compliance with all road safety regulations, taking into account the oversized capacity. Each transport was accompanied by police crews and included two trailer trucks and other vehicles for logistical support.
The two convoys travelled 150 kilometres to the refinery. The transports were carried out in 66 hours and required several logistical and administrative operations to facilitate the safe crossing of roundabouts, under bridges or electrified railway lines.
The Petrobrazi refinery has a total crude oil processing capacity of 4.5 million tons per year. Since 2005, OMV Petrom has invested more than EUR 1.8 billion in the Petrobrazi refinery, with a third of this investment contributing to reducing the impact on the environment.
About OMV Petrom
OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of approximately 47 million boe in 2021. 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 approximately 790 filling stations under two brands - OMV and Petrom.
OMV Petrom shares are traded on the Bucharest Stock Exchange and the London Stock Exchange. OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51% stake in OMV Petrom. The Romanian State, through the Ministry of Energy, holds 20.6% of OMV Petrom shares, and 28.4% is owned by natural and legal persons.
OMV Petrom is the largest contributor to the state budget, with approximately 35 billion euro in taxes and dividends paid between 2005 and 2021. During the same period, the company invested approximately 17 billion euro.
Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2021, the company has allocated over 80 million euro to develop communities in Romania, focusing on environmental protection, education, health, and local development.
On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change.
Contact:
OMV Petrom Investor Relations
Tel: +40 372 161930, Fax: +40 372 868518
e-mail: investor.relations.petrom@petrom.com