Romanian geophysical expertise provider Prospectiuni plans to open branch in Singapore

Romanian geophysical expertise provider Prospectiuni SA, controlled by local businessman Ovidiu Tender, intends to open a subsidiary in Singapore, according to the agenda of the shareholders’ meeting, scheduled for September 20, 2013. The new branch is to be opened for “conducting specific activities in the field,” reads the General Meeting of Shareholders’ notice. In early-July this year, the company’s shareholders approved the opening of a branch in Serbia. Prospectiuni SA is a major Romanian provider of geophysical expertise, with over 60 years of experience in the Romanian oil and gas industry. Last year, the company posted a turnover of some EUR 70 million, down 0.3 percent compared to the previous year. The company is listed on the Bucharest Stock Exchange under the symbol PRNS. Tender holds a 55.7 percent stake in Prospecţiuni, through Tender SA Timisoara, while SIF Muntenia has an 11.8 percent share. Irina Popescu, irina.popescu@romania-insider.com