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Published October 7, 2005

Petrom secures temporary homes for the hard hit

  • 150 temporary homes provided by Petrom through the Romanian Red Cross
  • The first 21 temporary homes will be installed at the beginning of November
  • So far, Petrom has allocated more than EUR 1,100,000 for the victims of the floods

Petrom, the largest oil and gas producer in South East Europe, continues its relief campaign for the victims of the floods. Petrom will provide 150 temporary homes through the Romanian Red Cross to the hart hit. The first 21 temporary homes will be installed at the beginning of November in Arges county. So far, Petrom has allocated more than EUR 1,100,000 for the victims of the floods. „What happened in Romania during the past months because of the extremely heavy rains has affected us all. We cannot turn our backs to the sufferings of others and if we are able to offer help it is our duty to do so. Our involvement in these areas is characterized by immediate and active measures whenever necessary”, stated Mr. Gheorghe Constantinescu, Chief Executive Officer of Petrom.

Today, at Petrom headquarters in Bucharest, the Petrom CEO, Mr. Gheorghe Constantinescu, the President of the Romanian Red Cross, Nifon Mihaita, Archbishop of Târgoviste and the General Manager of the Romanian Red Cross, Mihaela Steriu met again to establish the next stages of the relief project for the victims of the floods, a project which was started in July this year and amounts to the value of EUR 750,000.

Starting November, through the sponsorship offered by Petrom, the Romanian Red Cross will provide temporary homes for 600 people in several areas affected by floods. “Speaking about this project, the reason of our meeting today with the representatives of the Romanian Red Cross, we would like to inform you that, within 2 or 3 weeks, the installation of the first 21 temporary homes for the hard hit families in Arges county”, added Mr. Gheorghe Constantinescu.

150 families affected by the floods should benefit from temporary homes provided with heating systems as soon as possible. These homes are based on a modular structure, can be easily installed and can be a decent alternative home, now, when winter is getting closer for the people whose houses were completely damaged by the floods.

The high number of victims of the floods reflects the fact that the population is not prepared to face the disasters. In this regard, Petrom has financed an ample project developed by Romanian Red Cross, with EUR 150,000, which aims at preparing the population in order to prevent the disaster and reduce their damages, through specific measures and actions.

Up to present, Petrom allocated more than EUR 1,100,000 to the victims of the floods: EUR 750,000 through the Romanian Red Cross and more than EUR 350,000 directly to the hard hit consisting of fuels supplies, mineral water, gas stoves and LPG cylinders, polyethylene sacks for damming etc.

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, as well as Sales and Marketing. Petrom has estimated oil and gas reserves of 1 billion boe, refining capacity of 8 million metric tons and 600 filling stations. In 2004 the sales revenue of Petrom was EUR 2,143 million, EBITDA was EUR 28 million. Since December 2004 OMV, the leading oil and gas group in Central Europe holds a 51% share in Petrom. OMV is active in Refining and Marketing, Exploration and Production, Gas as well as Chemicals in 28 countries on five continents. The Romanian state holds 40.74% of Petrom shares, the European Bank for Reconstruction and Development, 2.03% and 6.23% are owned by minority shareholders.