Petrom Invests 130 Mln EUR in New Headquarters

Petrom has finalized the phase of architectural planning of the future Petrom City, according to a company press release. This will become the new headquarters of the company and will host around 2,500 employees who will be moving here starting 2009/2010.

Petrom City will have a total gross area of 100,000 square meters and will have five buildings - two oval office buildings, a classical shaped high raised building, a data center, a combined building with a power generation - and a garage for around 1000 parking slots. The assembly is provided with a series of additional facilities such as meeting points, cafe, health center, a store, a cafeteria, interior and exterior gardens.

The data center will be built on the premises of Petrom City and will support the activity of the entire OMV and its subsidiaries all over the world.

The company will allocate around 130 million EUR for the realization of Petrom City project, which includes the ecological rehabilitation of the plot, erection of the three office buildings, data center, power plant and garage, as well as for the construction of the roads infrastructure. More than 80 million EUR will support the construction of the office buildings. The cost for infrastructure will be around EUR 6 mn and will include the access to Petrom City plot as well as the streets within Petrom campus. The roads have a total length of 1.7 km and will be provided with illuminating system, benches and green areas.

Following the tender process, the construction contract was granted to SC Alpine S.A. and it is estimated that the construction works will start by end 2007.

Petrom City will be built at Straulesti, where Petrom is currently developing a large ecological rehabilitation project. The ecological rehabilitation project benefits from an investment of more than 10 million EUR.

Petrom is the largest Romanian oil and gas group, with activities in the business segments of Exploration and Production, Refining and Petrochemicals, Natural Gas, as well as Sales and Marketing.. In 2006 the turnover of Petrom was 3.709 million EUR, EBITDA was 1.020 million EUR. The Romanian state holds 30.862% of Petrom shares, Property Fund SA holds 9.887%, the European Bank for Reconstruction and Development 2.026% and 6.214% are owned by minority shareholders.