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ZF English

Petroconst revenues down 25%

Petroconst Constanta, a company specialising in pipelines construction and in setting up maritime rigs, last year made 13 million-euro turnover (528bn ROL), down 25% in euros from the previous year and much less than in 2002, when it posted 32 million euros. The negative performance of the company is due to the dwindling volume of orders coming in from its traditional customers in the petroleum and natural gas sector, such as Petrom, Distrigaz Sud, Distrigaz Nord and Transgaz Medias. Petroconst's management relies on business to pick up next year, when the works on the Romanian section of the 4.6bn-euro Nabucco project for transiting natural gas from Turkey to Austria via Romania are due to commence. Nabucco is now in the documenting stage. "Petroconst has contracted 520bn ROL (13.9 million euros calculated at an exchange rate of 37,405 ROL/EUR) worth in contracts thus far and expects turnover to reach 650bn ROL this year. We are the only company that works off-shore (for pipes and maritime rigs) with Petrom, but we also focus on ISPA, SAPARD and PHARE funded projects," Dumitru Cilibia, Petroconst Constanta's general manager said. ZF


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