Petrom signs 70m-euro contract with Linde

Petrom, the biggest Romanian company and part of Austrian petroleum group OMV, has signed a 70 million-euro contract with German engineering group Linde, to build a plant in Midia that will process gas extracted from the seabed. “This is one of the company’s important projects in Romania, with the budget we are to invest amounting to over 70 million euros, a part of the 1.5 billion-euro programme for extraction and production by 2010,” said Werner Ladwein, the member of Petrom’s executive board, in charge of extraction and production operations. The work is set to be completed by the end of the third quarter of 2008 and will be developed by the Linde Grup, which will build the new processing facility next to the already existing Midia Terminal. This installation separates gas oil from the gas extracted from the seabed and then delivers it to Petrom refineries.