OMV Petrom completed the modernization of the fuels terminal in Bacău
- Investment in modernization totals EUR 18 mn
- Fourth modern fuel terminal finalized in the last 5 years
- Around EUR 100 mn invested in total so far for the modernization of 65,000 m3 state of the art storage capacity
OMV Petrom, the largest oil and gas producer in Southeastern Europe, has completed the modernization of the fuels terminal in Bacău. The EUR 18 mn investment is part of the storage infrastructure modernization program to build three new terminals and modernize another three terminals.
Neil Anthony Morgan, member of OMV Petrom Executive Board, responsible for Refining and Marketing: "A modern terminals network will help us to reduce costs and increase the efficiency of our activities while continuing to supply our clients with products of the highest European standards. So far we have invested a total of around EUR 100 mn in the construction of three new terminals in Jilava, Brazi and Işalniţa, and in the modernization of the Bacău terminal."
All four terminals are fully automated and comply with Romanian and European norms and standards in the field. The terminals have a total storage capacity of 65,000 m³ (Jilava: 27,000 m³, Brazi: 8,000 m³, Işalniţa: 11,000 m³, Bacău: 19,000 m³). Due to the high standards used for the construction and equipment, the four terminals in Jilava, Brazi, Işalniţa and Bacău are among the most modern and safe oil products distribution terminals in Europe. The fuels terminal in Bacău will ensure the supply for the north-eastern part of Romania.
Oil products in the Bacău terminal are stored in reservoirs above the ground which are equipped with automated systems for volume and temperature measurement, automated system for protection against over-filling and a fixed fire extinguisher system. The reservoirs have steel walls and are connected to the automated detection system for leaks and cracks. The loading of the products in road tanks is completely automated and controlled by an automated system.
The Bacău terminal is equipped with a vapor recovery unit to minimize hydrocarbons emissions, a used water collection system, a fire protection system with automated alarms and warnings in case of fire as well as an automated control and management system for the technological process and the entire activity of the terminal.
OMV Petrom is the largest oil and gas group in Southeastern Europe, with activities in Exploration and Production, Gas and Power, and Refining and Marketing. The Group has consolidated its position on the oil market in Southeastern Europe following a far-reaching modernization and efficiency increase process, with investments of EUR 10 bn in the last nine years.
As of the end of 2013 the Group had proven oil and gas reserves of approximately 728 mn boe in Romania and Kazakhstan (707 mn boe in Romania). With a maximum annual refining capacity of 4.2 mn t, OMV Petrom is present in the distribution market for oil products in Romania, the Republic of Moldova, Bulgaria and Serbia through a network of approximately 800 filling stations, operated under two brands, Petrom and OMV. In Romania, this activity is performed through OMV Petrom Marketing, 100% owned by OMV Petrom.
To ensure sustainable development, OMV Petrom has expanded the gas value chain into power. In this context, OMV Petrom operates a 860 MW gas fired power plant at Brazi and a 45 MW wind park at Dorobantu.
In 2013 the Group’s turnover was EUR 5.473 bn, with EBIT of EUR 1.348 bn.
OMV, Austria’s largest listed industrial company, holds a 51.01% share in OMV Petrom. In Exploration and Production OMV is active in two core countries, Romania and Austria, and holds a balanced international portfolio. In Gas and Power, OMV sold approximately 425 TWh of gas in 2013. In Refining and Marketing, OMV had an annual refining capacity of 17.4 mn t and approximately 4,200 filling stations in 11 countries as of the end of 2013.
The Ministry of Economy holds 20.64% of OMV Petrom shares, the Property Fund holds 18.99% and 9.36% is free float on the Bucharest Stock Exchange.