REG - OMV Petrom S.A. - Brazi power plant fully available <Origin Href="QuoteRef">ROSNP.BX</Origin>

OMV Petrom SAAnnouncement

14/11/2017 07:05

RNS Number : 4153W
OMV Petrom S.A.
14 November 2017
OMV Petrom S.A.
Brazi power plant is now available at 100% of its capacity
The Brazi power plant of OMV Petrom is currently available at 100% of its 860 MW capacity. On November 13, starting 17:00, the second generation unit became available, after the replacement of the damaged transformer. 
At maximum capacity, the Brazi power plant can cover up to 10% of Romania's average hourly electricity consumption. 
Please be reminded that, since the end of September 2016, OMV Petrom has faced malfunctions at two transformers. Between October 2016 and April 2017, the plant functioned at 50% of its capacity, and between April and June 2017, it was completely offline. At the beginning of July this year, one of the transformers was replaced and since then the plant has functioned at 50% of its capacity.
The Brazi power plant is the largest private greenfield investment project in the energy sector in Romania, commissioned in 2012, following investments of around EUR 530 mn.
About OMV Petrom
OMV Petrom is the largest integrated oil and gas group in Southeastern Europe, with an annual oil and gas production of approximately 64 mn boe in 2016. The Group has a refining capacity of 4.5 mn tons / year and operates an 860 MW high efficiency power plant. The group is present on the oil products retail markets in Romania and neighboring countries through 787 filling stations, as of end September 2017, under two brands - Petrom and OMV.
OMV, one of Austria's largest listed industrial companies, holds a 51.01% stake in OMV Petrom. The Romanian state, via the Ministry of Energy, holds 20.64% of OMV Petrom shares, Fondul Proprietatea holds 9.9985%, and 18.35% is free float on the Bucharest Stock Exchange and London Stock Exchange.
Starting 2007, OMV Petrom has integrated the principles of corporate responsibility into its business strategy. In this period, the company has allocated approx. EUR 49 mn for the development of communities in Romania, focusing on environmental protection, education, health and local development.
Contact:
OMV Petrom Investor Relations
Tel: +40 372 161930, Fax: +40 372 868518
E-mail: investor.relations.petrom@petrom.com

This information is provided by RNS
The company news service from the London Stock Exchange
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