December 19 (SeeNews) - Romania's top oil and gas group, OMV Petrom [BSE:SNP], said on Tuesday it has completed construction works at two new gas treatment plants which required investment of over 130 million euro ($153 million) since 2013.
The two projects - in Burcioaia, Vrancea county and in Madulari, Valcea county, will ensure gas deliveries into the national transport system at pressures of up to 40 bar, OMV Petrom said in a press release.
The two facilities treat approximately 7.5% of OMV Petrom’s gas production in Romania. If used for heating only, the annual gas volume processed at Burcioaia and Madulari could meet the needs of over 330,000 households.
"Burcioaia and Madulari are twin projects implementing standardized solutions and modular design concepts for Upstream facilities. The projects allow to treat a capacity of up to 2,000,000 Sm3/day and to deliver gas in the national transport system at high pressure," OMV Petrom executive board responsible for Upstream, Peter Zeilinger, said.
"Additionally, they extend the lifespan of production operations in mature fields, as the new plants can receive incoming gas at low pressure."
The two gas projects consist of construction of infield gas lines and gas processing facilities for dehydration, compression and measurement as well as the necessary infrastructure for connection to the national transport system.
In November, OMV Petrom's Brazi power plant became available at 100% of its 860 MW capacity.
The Brazi power plant is located in Prahova county, in southern Romania. It is the largest private greenfield project for electricity generation in Romania. Brazi started operating in 2011, following a 530 million euro investment by OMV Petrom.
Austria's OMV Group owns a 51.01% stake in OMV Petrom; the Romanian state, via the energy ministry owns 20.64%, Fondul Proprietatea holds 9.9985% interest, and 18.35% is in free float on the Bucharest Stock Exchange and the London Stock Exchange.
Shares of blue-chip OMV Petrom traded flat at 0.28 lei on the Bucharest Stock Exchange as at 1301 CET on Tuesday.
($=0.8483 euro)