OMV Petrom invested 18 mln euro in modernizing the fuels terminal in Bacau

The oil and gas producer has completed another stage in its storage infrastructure modernization program after finalizing an investment worth 18 million euro in revamping the fuels terminal in Bacau, which ensures the supply for Romania’s northern-eastern region. The respective program includes the building of three new terminals, already completed – in Jilava, Brazi and Isalnita - and the modernization of another three terminals, the Bacau-based terminal being one of them.

“The Bacau terminal is equipped with a vapor recovery unit to minimize hydrocarbons emissions, a used water collection system, a fire protection system with automated alarms and warnings in case of fire as well as an automated control and management system for the technological process and the entire activity of the terminal”, is described by a press release.

OMV Petrom has invested about 100 million euro up to this point in this program, according to Neil Anthony Morgan, member of OMV Petrom Executive Board, responsible for Refining and Marketing, who explains in the mentioned press release that an upgraded infrastructure with modern terminals network helps the company to reduce costs and streamline its operations. All four terminals have a total storage capacity of 65.000 m3 and are fully equipped with automated technology.

OMV Petrom is the largest oil and gas group in Southeastern Europe, with activities in exploration and production, gas and power, and refining and marketing. Romania’s Ministry of Economy holds 20.64% of OMV Petrom shares, Fondul Proprietatea holds nearly 19 percent and 9.36 percent is free float on the Bucharest Stock Exchange. Last year, its profit hit a historic high, exceeding 1 billion euro, an advance by some 22 percent compared to 2012.