OMV Petrom announces 70 million euros investment at Petrobrazi

Rafinăria Petrobrazi, OMV Rafinăria Petrobrazi/ Sursa foto: OMV Petrom

OMV Petrom will direct approximately 70 million euros to Petrobrazi for the replacement of the cracking chambers, the company announced, according to Agerpres. The replacement will take place between 2021 and 2023, and approximately 11 million euros will be invested this year.

The four cracking chambers are designed for a lifespan of over 20 years and 5,000 operating cycles and will be made in Romania. The weight of a cracking chamber is almost 200 tons, with a diameter of about 6 meters, and a height/length of about 30 meters. The crane used to replace the cracking chambers will have a height of about 140 meters and, depending on weather conditions, can be seen from Bucharest.

“The new units will make an important contribution to increasing the efficiency and safety of our operations,” said Radu Căprău, a member of OMV Petrom’s Management Board, responsible for Downstream Oil.

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Petrobrazi has a total crude oil processing capacity of 4.5 million tons per year.

OMV Petrom is the largest energy company in Southeast Europe, with an annual oil and gas production at the group level of 53 million barrels of oil equivalent (BOE) in 2020. The group has a refining capacity of 4.5 million tons per year and operates a high-efficiency 860 MW power plant. On the retail petroleum products distribution market, the Group is present in Romania and neighboring countries through 790 gas stations, as of March 2021 under two brands – OMV and Petrom.

OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds 51% of OMV Petrom shares. The Romanian state, through the Ministry of Energy, holds 20.6% of OMV Petrom shares, Fondul Proprietatea holds 7%, and 21.4% are freely traded on the Bucharest Stock Exchange and the London Stock Exchange.

Translated from Romanian by Service For Life S.R.L.

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