Romania's OMV Petrom invests EUR 365 mln in gas production

OMV Petrom, Romania’s largest oil and gas group, has three projects ongoing in Gorj county, in south-western Romania, with a total value of EUR 365 million. The company has already finalized EUR 310 million investments in the region, which transformed Gorj into the most important natural gas production area for OMV Petrom. “Thanks to the high investments, which have led to several new discoveries in recent years, Gorj has become a top region in natural gas production, which currently covers 40% of OMV Petrom’s gas output,” said Gabriel Selischi, member of OMV Petrom’s directorate, in charge with upstream activities. The group has drilled new gas wells and has modernized its gas infrastructure in the area. It will continue the investments with an additional EUR 55 million budget for the 2015-2018 period. OMV Petrom has a yearly investment budget of over EUR 1 billion. editor@romania-insider.com