Petrom to buy exploration blocks from OMV in Bulgaria

Petrom, the biggest Romanian company, controlled by Austrian petroleum group OMV, is to secure exploration and production rights over one of the most important perimeters in Bulgaria from OMV by mid next year, a transaction put by OMV representatives at several million euros. “The block has a surface area of about 2,500 square kilometres and will be taken over by Petrom from OMV. By the end of this year or by mid next year, at the latest, there will be a property transfer from OMV to Petrom for several million euros,” said Helmut Langanger, a member of OMV’s executive board for the exploration and production segment. Halfway through next year, Petrom will also have one of the most important Bulgarian exploration and production perimeters besides the 74 filling stations it operates under the OMV brand in Bulgaria. The takeover of the 74 filling stations happened as part of a more extensive deal, which included the acquisition of 178 fuelling stations located in Bulgaria, Serbia, Montenegro and Romania.