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Petrom awarded Petrom City Contract to SC Alpine SA

  • Approximately 80 mn Euro for the construction of Petrom’s centralized headquarters
  • Petrom City will be built in the northern part of Bucharest, near Straulesti lake
  • Investments of around 10 mn euro for the ecological rehabilitation of the land in Straulesti

Petrom, the largest oil and gas producer in South-Eastern Europe, has signed with SC Alpine SA the construction contract for the company’s future headquarters, Petrom City. The contract was awarded after a competitive tender to SC Alpine SA.
Mr Reinhard Pichler, Petrom’s CFO: “With this significant contract we have laid the foundations for a centralized HQ which will be built over various stages with completion at the end of 2009.The building will be state-of-the-art and include all modern facilities according to international standards.”

The contract value is around EUR 80 mn. The building’r s construction work is estimated to start at the end of 2007.

Wolfgang Hoesll, CEO Alpine SA Romania: “It has been a very competitive tender and we are very proud we’ve won it. We’ll make all the necessary efforts to meet the requirements of this major project in terms of quality and time. In order to complete this project, we will try to find the best mixture of local and international subcontractors and suppliers”.

Petrom is building Petrom City as a centralized HQ in order to offer a single location for all Petrom employees working in six offices in Bucharest and other central locations. Petrom City will bring increase space flexibility which will facilitate the communication and the work flow between the various activities in the company.

The future centralized HQs, Petrom City, will be built on a Petrom owned land in northern Bucharest, at Straulesti, on the premises of a former fuel storage. During the second world war, following the bombardments, the tabks were damaged and caused the soil to be contaminated on specific areas.
Therefore, at the beginning of this year the company started at Straulesti the largest ecological rehabilitation project in Romania, which will be carried out for three years. Approximately 200,000 square meters will be ecologically rehabilitated with an investments of around 10 mn euros.

Background Information
Alpine SA Romania

SC Alpine SA is a 100% daughter company of Alpine Mayreder, the second largest construction company in Austria, with a turnover of Euro 2.5 bn in 2006.
Founded in 1999 in Bucharest, Alpine SA Romania was established with the same structure as the Austrian company. At the moment, Alpine SA has 435 employees in Romania, working all over the country.
The company activates in the construction of residential and office buildings, in the infrastructure, roads, railways and environment projects. Some of the most important projects in Romania were the German Embassy in Bucharest, office building for Linde Gas, shopping centers for Kaufland, Billa, Praktiker and others.

Background Information
Petrom SA

Petrom is the largest Romanian oil and gas group, with activities in the business segments of Exploration and Production, Refining and Petrochemicals, Natural Gas, as well as Sales and Marketing. Petrom exploits estimated oil and gas reserves of 1 billion boe, has an annual refining capacity of 8 million metric tons and holds 593 filling stations in Romania. The company also has an international network of 211 filling stations located in Moldova, Bulgaria and Serbia. In 2006 the turnover of Petrom was EUR 3,709 million, EBITDA was EUR 1,020 million. Following the share capital increase OMV, the leading oil and gas group in Central Europe holds a 51,011% share in Petrom. OMV is active in 13 Central European countries in its Refining and Marketing business segment and in 19 countries on five continents in Exploration and Production. The Romanian state holds 30.862% of Petrom shares, Property Fund SA holds 9,887%, the European Bank for Reconstruction and Development, 2.026% and 6.214% are owned by minority shareholders.