Published January 10, 2008

Ad-hoc Report - Changes within Petrom Executive Board

In compliance with Law no. 297/2004 and Regulation no. 1/2006 of CNVM

Date of report : January 10, 2008
Name of issuer : PETROM S.A.
Headquarters : Bucharest, Calea Dorobantilor nr. 239 sector 1
Telephone/fax number : +40 372 868930/021 3068538
Sole registration number at the Trade Register Office: 1590082
Fiscal attribute : R
Trade Register Number: J 40/8302/1997
Share capital: 5,664,410,833.5 RON
Regulated market on which the issued shares are traded : Bucharest Stock Exchange

Significant event to be reported:

Changes within Petrom Executive Board
Petrom, the largest oil and gas producer in South Eastern Europe, established its Executive Board and re-assigned certain responsibilities. The new members of the Executive Board are Mr. Siegfried Gugu and Mr. Gerald Kappes.

Petrom Executive Board is formed of seven members, namely Mrs. Mariana Gheorghe, Chief Executive Officer, Mr. Reinhard Pichler, Chief Financial Officer, Mr. Johann Pleininger, Mr. Siegfried Gugu, Mr. Jeffrey Rinker, Mr. Tamas Mayer and Mr. Gerald Kappes.

Petrom is being managed through a dualist system, by an Executive Board under the supervision of a Supervisory Board. The members of the Executive Board are appointed by the Supervisory Board and cannot be members of the Supervisory Board in the same time.

Members of the Executive Board and the activities they manage

Mariana Gheorghe – Chairperson of Petrom Executive Board holds the title of Chief Executive Officer and is responsible for the overall management of the company. Mrs. Mariana Gheorghe is responsible for the following corporate functions:

Corporate Communications;
Health, Safety and Environment (HSE);
Corporate Human Resources;
Corporate Development and Investor Relations;
Corporate Affairs and Compliance;
Legal

Reinhard Pichler – member of Petrom Executive Board, holds the title of Chief Financial Officer and is responsible for the management of the following activities:

Corporate Controlling and Accounting;
IT;
Taxation;
Financial Administration and Services;
Internal Audit;
Treasury and Risk Management.

Johann Pleininger – member of Petrom Executive Board, responsible for Exploration and Production Division. Mr. Pleininger is responsible for the management of the following exploration and production activities:

Controlling and Procurement;
Performance and change management;
Domestic assets;
Exploration;
Reservoir;
Projects and Engineering;
Commercial and Business;
International Assets, Business Development.

Siegfried Gugu – member of Petrom Executive Board, responsible for the Exploration and Production Services Division. Mr. Gugu is responsible for the management of the following domestic exploration and production activities:

Drilling services;
Work-over and well intervention services;
Maintenance services;
Logistic services.

Jeffrey Rinker – member of Petrom Executive Board, responsible for the Refining Division. Mr. Rinker is responsible for the management of the following refining activities:

General Management Arpechim;
General Management Petrobrazi;
Petrochemicals and Special Products Sales;
Refining technologies;
Project management;
Business Administration;
Integrated Planning;
Crude and Feedstock;
Health, Safety, Environment and Quality.

Tamas Mayer – member of Petrom Executive Board, responsible for Marketing Division. Mr. Mayer is responsible for the management of the following marketing activities:

Retail;
Commercial;
Supply & Logistics;
Asset management;
Procurement;
Business Administration;
PECO Marketing;
Export and Trading;
Advertising;
Health, Safety, Environment and Quality.

Gerald Kappes – member of Petrom Executive Board, responsible for the Gas Division, Power Division and Chemical products division (Doljchim). Mr. Kappes is responsible for the management of the following power, gas and chemicals activities:

Purchase, sales, trading and distribution of gas;
Transport and storage of gas;
Production, purchase, sales and trading of power;
Production, sales, trading and distribution of fertilizers and methanol.