Petrom prepares to produce energy in 2010

Petrom will start generating power in 2010, if the feasibility study for the 800 MW cogeneration power plant (accounting for around 5% of Romania’s annual consumption) located within the Petrobrazi refinery, is approved by the company’s executive management in June this year. So far, this is the biggest independent project conducted by Petrom. The production facility has a bigger capacity than a reactor in the Nuclear-Electric Power Plant in Cernavoda, with the value of the project perhaps exceeding 600 million euros. “The project will be built within the Petrobrazi refinery, and fuelled by gas from Petrom’s domestic supplies. Romania needs such energy investments. Now is the time for these projects,” stated Lacramioara Diaconu, manager of mergers & acquisitions and capital market relations within Petrom. The project is coordinated by an inter-department team, which Diaconu is also a member of. The feasibility study for the project started in August 2006, whilst the Austrian group Poyry, which specialises in energy projects, is providing consulting for this project.