Russia's Lukoil, and Petrom, the biggest company on the Romanianmarket, are in the process of completing investments of over 600million euros in 2011 in energy production facilities. These areamong the few conventional energy projects carried out in the last20 years, being the first challenges to the state's monopoly in thesector.
Lukoil finalised a 160 million-dollar (115 million-euro) investmentin modernising an energy production facility on the platform of thePetrotel refinery in Ploieşti, while Petrom is on the finishingstraight with a 860-MW greenfield investment, bigger than a reactorof the Cernavodă plant, worth 500 million euros at Brazi, on theplatform of the Petrobrazi refinery. Both oil companies will usethese investments to meet their own energy consumption needs, butalso sell the bulk of the energy generated on the market.
The announcement of the completion of the Lukoil investment wasmade in the presence of Vagit Alekperov, president of the Russianpetroleum giant with over 81 billion dollars in turnover in 2009.Alekperov also had several meetings with representatives of theEconomy Ministry as well as with Romanian President TraianBăsescu.
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