5,000 to be hired for Constanta-Trieste pipeline

The construction of the Constanta-Trieste pipeline could generate 5,000 new jobs over the period the project is carried out, of which 1,000 will be permanent ones, according to the representatives of the Economy and Trade Ministry (MEC).
Oil Terminal and Conpet companies operating in this field, both state-owned firms, could become the operators of this pipeline, which will expand their activities and implicitly add to their revenues, according to the above-quoted sources.
According to MEC representatives, a meeting is scheduled in Bucharest in the second half of this month, during which possibilities related to the development of the project are going to be discussed and assessed.
For the time being, the form under which the financing of the project is to be provided has not been set, with the most likely scenario being the establishment of a project company that is to bear all construction costs.
“We are very interested in delivering the project related to the construction of Constanta-Trieste pipeline.
“To us, this is an opportunity we’d be ready to finance at any time. We would be connected to the crude oil resources of the Black Sea area and the Caspian Sea,” says Dinu Patriciu, the chairman of Rompetrol group.
The group already owns the most important refinery of Romania, Petromidia, and could get other refining facilities in Serbia if it takes control over the majority stake in the biggest Serbian oil company, NIS (Nafta Industrija Srbije). Serbia, together with Croatia, Slovakia, Italy and Romania last week signed the ministerial statement for this project.
At present, there are three alternatives for the construction of this pipeline, as pointed out in the feasibility survey conducted by Hill International, a US firm specialised in providing consulting services for construction projects.
The money Romania can make depend on the alternative to be chosen. Sums range between 1.8 and 3.5 billion euros considering a shipping capacity ranging between 40 and 90 million tonnes of crude oil per annum.
These cumulated benefits are calculated for a pipeline life span of 20 years.
The pan-European Oil Pipeline (PEOP) between Constanta and Trieste will start being exploited in 2012, according to Reuters.
With a length of 1,400 kilometres and costs estimated to hit 2-3.5 billion euros, the oil pipeline is going to supply refineries in northern Italy and Central Europe with oil coming from the Caspian Sea area.
Half of the oil pipeline will be located on the territory of Romania.