Total investments in the project have exceeded $380 million, Rompetrol said in a statement.
“The completion of the upgrade and expansion program is the groundwork for the Rompetrol Group’s next step in extending and consolidating its presence in the Black Sea and the Mediterranean, as well as in gaining access to new markets such as Ukraine or Turkey,” said Zhanat Tussupbekov, chief executive officer of the Rompetrol Group.
Started in 2006, the project included the development of five new units at the Petromidia refinery and the modernization and expansion of four existing installations, Rompetrol said.
Rompetrol’s general contractor Rominserv coordinated the works, which involved the participation of more than 280 companies.
“Petromidia Refinery is an important asset for KazMunayGas and Rompetrol, being technologically capable to fully process crude oil from Kazakhstan just by itself,” said Daniyar Berlibayev, Senior Vice-president of KazMunayGas.
“This project supports KazMunayGas’ strategy to expand its transport routes to the European Union,” he added.
Headquartered in Amsterdam, the Netherlands, the Rompetrol Group has assets and operations in 12 countries, mainly based in France, Romania, Spain, and South-East Europe.
In Romania, Rompetrol controls 25% of the local fuel market, according to company information.