The company said the insolvency request was triggered by the lower number of drilling contracts following the oil companies’ decision to lower investments and by the impossibility to pay the fine given by Romanian antitrust watchdog or the taxes to the state budget.
In January, Romanian antitrust authorities fined oil drilling companies Dafora Medias, Upetrom 1 Mai, Foraj Sonde Craiova and Foraj Sonde Targu-Mures a total of EUR3 million for rigging auctions for drilling works held by Romgaz Medias.
In 2014, Dafora reported RON198 million revenue, up 25% on the year, and a net profit of RON4.6 million, from RON149.8 million losses in 2013.