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Kazakh petroleum revives Petrom's “black gold” production
1 feb 2010
Petrom, Romania's largest company, the only petroleum and gas
producer in Romania, saw a rebound of its hydrocarbon production in
the last three months of last year, but did not manage to extract a
similar level to that recorded in the fourth quarter of 2008.
Petrom extracted 187,000 barrels of oil equivalent per day in the
fourth quarter of last year, 1% more than in the third quarter,
mainly due to improved results in the Komsomolskoe oil field
operated by Petrom in Kazakhstan. As for natural gas, according to
OMV data, Petrom's production in the last three months of last year
amounted to 1.37 million cubic metres, 38% more against the third
quarter of 2009 and around 3% more against the similar period of
2008. "Petrom's gas sales rose by 3% against the last quarter of
2008, whilst demand on the Romanian market was largely stable,"
says representatives of OMV, the Austrian group that controls
Petrom. According to the quoted sources, Petrom allocated 55
million euros in provisions in expectation of the outcome of a tax
review for 2004 to 2008.

