Petrom

Petrom - Making a strong company even stronger

In order to consolidate our leadership position, to ensure the company's future and to close the gap to standards, which are internationally competitive, we have entered a modernization process. This process is aimed at improving the operation costs and performance position of the company.

Petrom sees an unprecedented capital for investment in the company's core activities and operations, with around 3 bn Eur to be invested until 2010.

We are certain that Petrom is to become a profitable and strong company, a leader of the Romanian economy. The field experience gathered along 150 years, the international know-how, the combined efforts of Romanian and Austrian experts create the basis of Petrom's development in accordance with our duties towards shareholders, community and environment. Together we will make a strong Petrom even stronger.

Petrom has obtained positive financial results for the year 2005, which will contribute to the fulfillment of the company's strategic objectives. Net income significantly increased to RON 1,416 mn (EUR 391 mn), as well as the EBIT which turned positive in 2005, amounting to RON 1,884 mn (EUR 520 mn). Turnover of the company grew by 23.8% compared to 2004 and reached the value of RON 10,760 million (EUR 2,970 million).

With its fresh capital Petrom is now ideally equipped for qualitative growth. The investment program for 2010, which totals approximately EUR 3 bn, will support the achievement of the committed development objectives for each activity segment.

Petrom will renew its exploration and production activities, will have full control of the refining capacity and will supply fuel through a modern and convenient retail network.

The significant increase of performance and the improvement of the cost position in all business areas will ensure the lasting profitability of the company and will determine the leading position of Petrom on the oil and gas market in the South Eastern Europe.

The modernization process started in 2005, the new technologies, experience and know-how of OMV as well as the investments capital are a true warrant for the success of the company.