Romanian oil group signs USD 70 mln contract with OMV Petrom

GSP Offshore, one of the companies in the Romanian holding Grup Servicii Petroliere (GSP), has received a contract of over USD 70 million from oil & gas producer OMV Petrom, reports local Capital.ro. Constanta billionaire Gabriel Comanescu owns GSP. The company will provide marine drilling services for the oil perimeters operated by OMV Petrom in the Black Sea, following a public tender where GSP was sole bidder. The contract is valid for five years. It was initially estimated at USD 63.1 million, without VAT, but GSP got the contract for EUR 70.7 million. Upetrom 1 Mai, one of the companies owned by Comanescu, has recently become insolvent, with debts of almost EUR 55 million. editor@romania-insider.com