OMV prepares for Petrom integration

The Austrian oil company OMV has started preparations for integration of Petrom, Romanian’s largest oil company, which it will take over this November, Petrom sources told Ziarul Financiar. OMV experts have already begun working with their Petrom counterparts on a number of issues, including certain procedural matters. After carrying out studies, the Austrians became interested in Petrom’s oil production operations in Kazakhstan, and, apart from funding operations in that region, OMV has also set its eyes on new exploration and production. “Currently there are two OMV observers at Petrom, as well as two others acting as replacements for the previous two. There are also Austrian specialists working with our specialists on certain procedural matters,” sources specified. ZF