- Around EUR 600 mn investment for modernization during 2010-2014
- Refinery adapted to process entire crude production of OMV Petrom in Romania
- Product yield structure adapted to market demand by increasing diesel production
- Energy consumption reduced by 25%
OMV Petrom, the largest oil and gas producer in South-Eastern Europe, has announced the successful finalization of the modernization process of Petrobrazi refinery, performed during 2010-2014. Total investment in the modernization process amounted to around EUR 600 mn. The main target of the investment program was to increase competitiveness. OMV Petrom is now able to process the entire Romanian crude production of OMV Petrom in a single refinery. The adjustment of Petrobrazi refinery’s capacity up to 4.2 mn tonnes/year ensures the efficient processing of the crude, capitalizing on OMV Petrom’s integrated company model.
The refinery is now in a position to produce according to market needs. Following the modernization process, diesel and jet fuel will have a share of up to 45% in the products yield structure of Petrobrazi refinery. While Petrobrazi refinery was capable of producing around 900,000 tonnes of diesel per year in 2009, presently the refinery’s diesel production capacity has increased to more than 1,500,000 tonnes.
Neil Anthony Morgan, OMV Petrom Executive Board member, responsible for Refining and Marketing: "The increase of the diesel share in Petrobrazi refinery’s production will enable a better response to the demand on the Romanian market. In the past, when the refinery was designed, gasoline consumption exceeded that of diesel but in recent years this trend has reversed."
In addition, the commissioning of modern equipment and adjustment of refining capacity will have a positive impact on the refinery’s efficiency. The refinery’s total energy consumption will be reduced by 25% against 2009. Following the completion of the modernization program, the refinery now has a Nelson Index1 of 11.28, above local and regional peers.
In the process the following installations were modernized, extended or replaced:
- Gas oil hydro treating unit
- Fluid catalytic cracker unit
- Coker unit
- Crude vacuum distillation unit
- Gas desulfurization and sulphur recovery unit
- Hydrogen plant
- Refinery tank farms
The modernization process was complex, with most works being performed during two scheduled general shutdowns of the refinery. The operations in the final phase involved around 5,000 people working on site and were finalized on time, without any incidents.
OMV Petrom is the largest integrated oil and gas group in South-eastern Europe, with an annual oil and gas production of approximately 66 mn boe. The Group has a refining capacity of 4.2 mn tons / year and owns an 860 MW high efficiency power plant and a 45 MW wind park. OMV Petrom is present on the oil products retail markets in Romania and neighbouring countries through approximately 800 filling stations.
OMV, Austria’s largest listed industrial company, holds a 51.01% share in OMV Petrom. The Romanian state, via 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.
In the last nine years investments for the consolidation and modernization of OMV Petrom amounted to EUR 10 bn. The annual direct, indirect and induced impact of OMV Petrom in Romania’s GDP is around 5%.
Starting 2007, OMV Petrom integrated the principles of corporate responsibility within its business strategy. In this period, the company allocated more than EUR 40 mn for the development of communities in Romania, focusing on environment protection, education, health and local development. Andrei’s School is the main platform for community involvement.
Sorana Baciu, Director Strategy & Investor Relations
Tel: 0040-372-429 082, Fax: 0040-372-868 518
1 The Nelson Index is an indicator used to evaluate the complexity of an oil refinery.