Rompetrol Starts Drilling Operations in Romania for OMV Petrom

Rompetrol Group NV, Romania’s second-biggest oil company, began drilling a test well in the central Romanian county of Prahova to search for oil for OMV Petrom SA (SNP) as part of contract between the two companies.

Rompetrol’s drilling unit plans to invest about $8.5 million in operating the well, which is part of a $29 million service-providing contract with Petrom, Romania’s biggest oil company, Rompetrol said in an e-mailed statement today.

“The investment was focused on the purchasing of a performance-drilling unit,” said Gheorghe Georgescu, the unit’s general manager. “The company experience in drilling services and repairing of wells in 15 countries will allow us to develop these activities in Romania, both onshore and in the Black Sea.”

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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