Roiss said OMV Petrom’s (SNP.RO) restructuring is close to an end, and a ten-year strategy is soon to be drafted. He added the plan will be ready in the first months of 2012, after including the government’s fiscal changes.
The company official added that there were no talks about royalties. The OMV group, which bought Petrom from the Romanian state in 2004, pays preferential royalties for oil and gas until 2014.
OMV presented on Wednesday its new strategy until 2021. The group’s objectives involve dropping assets worth EUR1 billion on the refining and marketing segments, while focusing on hydrocarbon and electricity production.
Roiss added the asset dump does not refer to Romanian refinery Arpechim, which is currently closed.
Petrom chief executive officer Mariana Gheorghe said the company plans to invest EUR600-800 million per year on the exploration and production segment, and the amount may even be higher, depending on opportunities.
On the exploration and production segment, OMV has a partnership with US group Exxon, on the evaluation of hydrocarbon potential in the Black Sea, where the company has the lease on two blocks.
The Austrian group is even considering the possibility to make on of the Black Sea blocks, Neptun, into a supplier for the Nabucco gas pipeline.