Romanian Rominserv lands USD 1 bln contract to modernize parent company’s refinery in Kazakhstan

Romanian company Rominserv, part of the Rompetrol group, recently signed a deal to work on modernizing the Pavlodar refinery in Kazakhstan, a contract worth USD 1 billion. Work on the refinery, which is owned by KazMunayGas, will lead to a processing capacity upgrade from 5 million tonnes to 7 million tonnes a year, improving the product quality and reducing the impact on the environment. Rominserv, also owned by the Kazakh group KazMunayGas, was chosen for its experience in dealing with similar size projects, such as the refineries Petromidia Navodari and Vega Ploiesti, both in Romania. In a first stage of the project, the Romanian company will cover the design and produce all needed materials and equipment for building new installations and for modernizing the existing ones. A second stage could then start in 2014, pending on a Pavlodar analysis. This is KazMunayGas’ largest refinery and among the most modern in the Central Asia region. Rompetrol group, which includes the Rominserv subsidiary, is owned by KazMunayGaz, which took over the company in 2007 from former shareholder Dinu Patriciu. Rompetrol Rafinare, the refining arm of the group, recorded a gross turnover of some USD 4.62 billion in 2012, around USD 200 million less than in 2011. In 2012, the entire group posted revenues of USD 10.8 billion. editor@romania-insider.com (photo source: KazMunayGas)