LONDON: OMV Petrom and Romgaz are cooperating to unlock the natural gas resources in the Black Sea.
These are essential for Romania’s energy security, for the success of the energy transition and for generating economic growth, a news release said.
In case of acceptance of the Romgaz offer by ExxonMobil, OMV Petrom will act as operator for Neptun Deep block.
Christina Verchere, CEO of OMV Petrom: “The Black Sea is a unique opportunity for Romania and we are committed to contributing to its materialization. OMV Petrom has over 40 years of offshore experience as operator in the Black Sea and also benefits from OMV Group’s international deepwater capabilities.”
Aristotel Jude, general manager of Romgaz: “We are ready to act as equal partners to make this strategic project happen. If our offer is accepted, OMV Petrom will become the project operator.”
OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of 53 million boe in 2020. 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 793 filling stations, at the end of 2020, under two brands – OMV and Petrom.
OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51% stake in OMV Petrom. The Romanian State, through the Ministry of Energy, holds 20.6% of OMV Petrom shares, Fondul Proprietatea holds 7%, and 21.4% is the free float on the Bucharest Stock Exchange and the London Stock Exchange.
OMV Petrom is the largest contributor to the state budget, with contributions of approximately 32 billion euro in taxes and dividends paid between 2005 and 2020.
Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2020, the company has allocated approximately 72 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.
S.N.G.N. Romgaz S.A. is the largest natural gas producer and the main supplier in Romania.
The company is listed on Bucharest Stock Exchange and GDRs are traded on London Stock Exchange. The majority shareholder is the Romanian State owning a 70% stake. The company has a vast experience in the field of gas exploration and production, with a history that began in 1909 and spans more than 100 years.
Romgaz undertakes geological exploration with the aim of discovering new gas reserves, produces methane by exploiting the reservoirs included in the company’s portfolio and stores natural gas in underground storages; it performs well interventions, workover and special operations, and ensures technological transportation professional services. In 2013, Romgaz extended its scope of work by taking over Iernut thermoelectric power plant, becoming electricity producer and supplier.