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Economic

Rompetrol Group Starts Oil Drilling Operations In Romania

Romanian oil group Rompetrol on Wednesday announced it has started drilling operations, for the first time in Romania, following an investment of $8.5 million.

Andrei Cîrchelan · 30 noiembrie 2011 · 1 min de citit

The operation is part of a deal concluded in June between Rompetrol and OMV Petrom (SNP.RO), worth some $29 million. The contract says Rompetrol provides Petrom with drilling services until 2015.

The investment was mainly used on the purchase of equipment for the drilling operations, and the machinery used is a Romanian first, Rompetrol said in a news release.

Petrom, a company owned by Austrian oil and gas group OMV, awarded in June drilling contracts worth a total EUR248 million. Aside from Rompetrol, service providers included companies controlled by the Cristescu brothers and by Gheorghe Calburean.

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