OMV Petrom Signs Accord With Expert Petroleum on Output

OMV Petrom SA (SNP), Romania’s biggest oil company, signed an agreement with Expert Petroleum SRL for services to increase production at 13 oil and gas deposits.

These deposits, which now represent about 1.5 percent of Petrom’s daily output, are located near the western Romanian city of Timisoara, the company said in an e-mailed statement today. According to the 15-year contract, Expert will take over and finance operations to increase production, Petrom said.

Petrom will remain the only holder of the concession licenses for the deposits, according to the statement.

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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