- Hurezani project to facilitate gas delivery into the national transportation system
- High capacity compressor station, gas metering station and 11.5 km of pipeline start up after 9 month construction period
- Total investments worth around EUR 135 mn
Petrom, the largest oil and gas producer in Southeastern Europe, announces the first gas delivery of Hurezani gas delivery system. This project was initiated in order to optimize the gas delivery into the national transportation network in periods when the pressure in the system is very high (because of low consumption, especially during summer). Basically, the Hurezani gas delivery system optimises Petrom’s gas deliveries from the fields situated in Southwestern Romania and contributes to the security of gas supply in Romania.
Johann Pleininger, Petrom Executive Board member, responsible for Exploration and Production: "We operate mostly mature fields and the reservoir pressure is decreasing. The Hurezani gas delivery system will help us increase the pressure up to 40 bars so that gas can be better delivered into the national transportation system. Thanks to the close collaboration with Transgaz we were able to find pragmatic solutions for a quick start-up. For the future we look forward to continuing our partnership in order to exploit this investment at full capacity. Without this investment, we would have delivered less gas to the market especially during the summer period. The Hurezani project is part of our strategy, which aims to unlock the potential of Exploration and Production."
The Hurezani gas delivery project was initiated in 2008 and is located in the Southwestern region of Romania, between Craiova and Targu Jiu. The works included a new compressor station at Bulbuceni, 11.5 km of new connection pipeline and an upgrade of Hurezani delivery point to meet the new gas flow and pressure parameters. The Bulbuceni compressor station combines the latest technology and facilities and observes all European safety standards. The station receives gas from five fields in the area.
The first gas delivery in the system took place on May 29 and will be followed by a period of around 100 hours of testing and adjustments. Continuous delivery in the national network is estimated to start in the beginning of June 2010.
Investments for this project amounted to approximately EUR 135 mn.
OMV Petrom SA
Petrom is the largest Romanian oil and gas group, with activities in the business segments of Exploration and Production, Refining and Marketing as well as Gas and Power. Petrom exploits estimated proved oil and gas reserves of 823 mn boe in Romania (854 mn boe at group level), has an annual refining capacity of 8 mn t and holds around 550 filling stations in Romania. The company also has an international network of 268 filling stations located in Moldova, Bulgaria and Serbia. In 2009, the turnover of Petrom was EUR 3,029 mn, EBITDA was EUR 696 mn. OMV Aktiengesellschaft, the leading energy group in Central and South-eastern Europe holds a 51.01% share in Petrom. OMV is active in 12 Central European countries in its Refining and Marketing business segment and in 17 countries on four continents in Exploration and Production. Ministry of Economy holds 20.64% of Petrom shares, Property Fund SA holds 20.11%, the European Bank for Reconstruction and Development 2.03% and 6.21% is free float on Bucharest Stock Exchange.