Petrom has been running on a 30% lower budget since 2015, compared with the EUR1 billion it had allocated every year since 2004, and the effect became visible its production in the second half of the year. Petrom will announce 2015 results on February 18.
The projects that the company had to put on hold due to the difficult market include, besides exploration and production projects, the construction of new office space in Petrom City, Petrom’s headquarters opened in 2010, following a EUR130 million investment.
Petrom City consists of two oval office buildings called Infinity, a regular shaped building, Tower, a data center, a 5 MW power plant and a parking lot for 900 cars. Work on it started in the spring of 2008 and it currently accommodates more than 2,500 employees.
“OMV Petrom is supportive of the development opportunities of the Petrom City area. Starting 2014, we have made efforts to secure a new zoning plan and identified many opportunities to develop the plots near Petrom City,” Petrom officials said.
The company plans to use one of the plots to build office space for its employees. Considering the difficult market due to the very low oil price and the project being in its early stages, it was put on hold for the time being, Petrom officials added.
(English version by Loredana Fratila-Cristescu)