OMV moves to restructure Petromservice

Petromservice, a provider of oil services, announced it signed a services contract with OMV-Petrom, through which the value of works carried out for Petrom has been reduced.

As a result, the company will slash its number of employees, the Ploiesti branch of Petromservice announced.

In line with the new agreement, the company controlled by Austrian group OMV will carry out works worth a minimum of 180 million euros in 2006, a sum that is 20 million euros below the level agreed for this year, and 63 million euros less than in 2004. The company”s representatives could not be contacted for further comment at the time of going to press. Petrom and Petromservice last month announced having sealed a services contract valid until 2012, with a value revolving around one billion euros.

“Following negotiations held with the trade unions of Petromservice, the company decided not to send employees on an unpaid leave, but to secure the monthly payment of 75% of the current wage until the moment the restructuring programme is applied,” the above-quoted source also states. The minimum amount will shrink by 10% in each of the following years.

“As a result, over the following period, Petromservice will reshuffle its activities in line with the contract signed with OMV-Petrom, which will also entail a reduction in the number of employees. Compensation is to be secured for all the employees of Petromservice to be laid off, under the same conditions to be applied in the case of Petrom employees,” Petromservice representatives added. adrian.mirsanu@zf.ro