June 28 (SeeNews) - Romania's top oil and gas group OMV Petrom [BSE:SNP] said on Monday that it will invest some 70 million euro ($84 million) at the Petrobrazi refinery, to replace four coke drums that are essential during the refining process.
The process of replacing the Coke Drums will take place between 2021 and 2023 and approximately 11 euro million will be invested this year, OMV Petrom said in a press release.
"The replacement of the Coke Drums is a project with a very high degree of technical and organizational complexity. The new units will have an important contribution to increasing the efficiency and safety of our operations," said Radu Caprau, member of OMV Petrom executive board, responsible for Downstream Oil.
The coke drums, at very high temperatures, ensure the stage of upgrading heavy components to superior products. The four coke drums are designed for a lifespan of over 20 years and 5,000 operating cycles and will be manufactured in Romania.
Petrobrazi has a total crude oil processing capacity of 4.5 million tonnes per year and, starting 2005, OMV Petrom has invested approximately 1.8 billion euro in the refinery, one third of this investment contributing to the reduction of the environmental impact.
Shares in blue-chip OMV Petrom traded 0.47% higher at 0.4310 lei ($0.10/0.09 euro) by 1022 CET on Monday on the Bucharest Stock Exchange.
($=0.8373 euro)
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