This first phase consists in building the foundations and requires approximately 3,000 cubic metres of concrete and 335 tons of steel, the company in a press statement.
Neil Anthony Morgan, membru al Directoratului OMV Petrom, responsabil pentru activitatea Downstream Oil, speră ca noua unitate să fie funcțională începând cu 2019.
“The new Polyfuel unit is an ambitious project through which high-end technologies in the refining and petrochemical industry will be available in Romania. The project is going according to plan and we expect the new unit to be fully operational at the beginning of 2019,” said Neil Anthony Morgan, OMV Petrom Executive Board member responsible for Downstream Oil.
The new unit will allow for a shift in refinery production of up to 50,000 tons of LPG components into gasoline and middle distillates. The project consists of three main reactors, several adsorbers, columns and pumps., the statement also reads.
After privatization (2005-2016), investments in Petrobrazi refinery totaled EUR1.2 billion, of which around EUR600 million was invested in the modernization program that took place between 2010 and 2014. With a refining capacity of 4.5 million tons per year, Petrobrazi can process the entire crude production of OMV Petrom in Romania.
OMV Petrom is the largest integrated oil and gas group in Southeastern Europe, with an annual oil and gas production of approximately 64 million barrels of oil equivalent (boe) in 2016. The Group has a refining capacity of 4.5 million tons / year and operates an 860 MW high efficiency power plant and a 45 MW wind park (the latter’s sale ongoing). The group is present on the oil products retail markets in Romania and neighboring countries through 784 filling stations, as at end March 2017, under two brands – Petrom and OMV.
OMV, one of Austria’s largest listed industrial companies, holds a 51.01% stake in OMV Petrom. The Romanian state, via the Ministry of Energy, holds 20.64% of OMV Petrom shares, Fondul Proprietatea holds 12.57%, and 15.79% is free float on the Bucharest Stock Exchange and London Stock Exchange.