Petrom organizes “Open Gates Day” for students at Ploiesti Oil and Gas University

• Petrom to sign a long-term partnership agreement with Oil and Gas University (OGU) in Ploiesti
• Petrom to donate to university a simulator for drilling operations, well interventions and repairs with a value of over 600,000 Euro
• Scholarships and internships for the students

Petrom, the largest oil and gas producer in South Eastern Europe, organized the “Open Gates Day” event at Oil and Gas University in Ploiesti, on March 13th. During the event, the students and university representatives learned more about company future plans, the way in which Petrom will be involved in University life, as well as a series of details about Exploration and Production Division of Petrom. The event was attended by students, professors at faculties of oil engineering and equipment, as well as representatives of Petrom Exploration and Production.

Werner Ladwein, member of Petrom Managing Committee, responsible for exploration and production activity: „The sustainable development of Petrom is based on a clear modernization and efficiency program for which the company allocated a budget of more than EUR 3 bn until 2010. In the same time we need top professionals to fulfil our targets. OGU represents for us the most important provider of oil specialists as well as a long term partner.”

Petrom and OGU took this occasion to sign the partnership agreement to lay the grounds for future co-operation. As a first step in the collaboration, Petrom will donate a simulator for drilling operations, well interventions and repairs. It will give the students the possibility to effectively work in similar oil field conditions, in order to get the necessary practical skills for their future work. The state of the art simulator for drilling operations, well interventions and repairs has a value of over 600,000 Euro.

Dl. Vlad Ulmanu, the University Rector: “The traditional collaboration between OGU and Petrom is now seeing a new development stage, by signing this partnership. Our joint efforts to improve the graduates’ level of preparation are put in practice today by Petrom’s donation of a state of art simulator and, in the future by, dealing together with both challenges in technology and science.”

A series of projects have been started for OGU students, who will have the opportunity to benefit from scholarships and internships within the company. In the same time they will be involved together with their specialized professors in developing specific exploration and extraction studies and projects.

Petrom and the Oil and Gas University had numerous collaborations in the past and they want this tradition to continue.

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.