REG - OMV Petrom S.A. - Petrobrazi refinery general turnaround

OMV Petrom SAAnnouncement

24/04/2023 08:45

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RNS Number : 2036X  OMV Petrom S.A.  24 April 2023

OMV Petrom S.A.

Investor News

24 April 2023

 

 

OMV Petrom has started the general turnaround of the Petrobrazi refinery

 

►  The company allocated approximately 400 million lei for the turnaround,
representing maintenance and investment costs

 

OMV Petrom, the largest integrated energy company in South-Eastern Europe,
announces the start of the general turnaround of the Petrobrazi refinery. The
turnaround will take place over the course of six weeks, during which time the
refinery's activity will be stopped. The company allocated approximately 400
million lei for this turnaround.

Radu Căprău, member of the OMV Petrom Executive Board, responsible for the
Refining and Marketing activities: "A turnaround is an event of major
importance in the activity of the refinery and requires a complex planning and
risk management process. The turnaround will total more than 2 million hours
of operations; more than 20 modernization projects and tens of thousands of
technical checks and inspections of equipment and installations are planned.
This turnaround required two years of preparation and it is mandatory to
ensure the smooth and safe operation of the refinery. This planning also took
into account ensuring the fuel supplies necessary for continuity in the supply
of the market in Romania and the region."

25 main contracting companies will be involved in the turnaround, out of which
over 80% are Romanian companies. The turnaround will be carried out with the
help of approximately 6,000 people and will include technical expertise on
over 600 pieces of equipment, checks on over 1,400 safety valves, pressure
tests on approximately 6,000 pipes as well as checks on electrical and
automation equipment.

At the same time with the turnaround, modernization works will be carried out
at several installations within the refinery, such as replacing the coke
drums. The previous turnaround took place in 2018, and the next one is planned
for 2028.

OMV Petrom invested, between 2004 and 2022, approximately EUR 2 billion in the
Petrobrazi refinery, one third of this amount being targeted to reducing the
environmental impact.

 

About OMV Petrom

OMV Petrom is the largest integrated energy company in South-Eastern Europe,
with an annual Group hydrocarbon production of approximately 43 million boe in
2022. The Group has a refining capacity of 4.5 million tons annually and
operates an 860 MW high-efficiency power plant. The Group is present on the
oil products retail market in Romania and neighboring countries through
approximately 780 filling stations under two brands - OMV and Petrom.

OMV Petrom is a company in which Romanian shareholders hold over 42% of the
shares (of which the Romanian state, through the Ministry of Energy, holds
20.7%, and 21.7% are owned by pension funds in Romania, to which are added
almost 500,000 individual investors and other Romanian entities). OMV
Aktiengesellschaft, one of the largest listed industrial companies in Austria,
holds a 51.2% stake in OMV Petrom, and the remaining 6.4% are held by other
foreign investors. Of the total shares of OMV Petrom, 28.1% represents the
free float on the Bucharest Stock Exchange and the London Stock.

OMV Petrom is the largest contributor to the state budget, with approximately
39 billion euro in taxes and dividends paid between 2005 and 2022. During the
same period, the company invested approximately 17 billion euro. In 2022, the
taxes paid by OMV Petrom ensured 7% of Romania's tax revenues.

Since 2007, OMV Petrom has included corporate responsibility principles into
its business strategy. Between 2007 and 2022, the company has allocated around
120 million euro to develop communities in Romania, focusing on environmental
protection, education, health, and local development.

On July 29th, 2020, OMV Petrom announced its support for the recommendations
issued by the Task Force on Climate-related Financial Disclosures (TCFD)
regarding risks and opportunities on climate change. OMV Petrom annually
reports on the progress made in implementing these recommendations.

 

 

Contact:

OMV Petrom Investor Relations

Tel: +40 372 161930, Fax: +40 372 868518

e-mail: investor.relations.petrom@petrom.com
(mailto:investor.relations.petrom@petrom.com)

 

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