Rompetrol - over 175 million USD for expanding its crude oil and oil-product transit capacity

The Rompetrol Group invested in 2007-2008 over 175 million USD in building an offshore sea terminal in the Black Sea and in expanding by 350% its end product transit capacity by Midia port.

“With an annual transit capacity of maximum 24 million tons of crude oil, the new sea terminal will play a strategic role in consolidating the bridge between the oil resources of the East and the sale market of the West, but also in ensuring the energy security of the European Union by creating an alternative route. It will also support the presence of KazMunaiGaz and Rompetrol within the geographical arch stretching from the Caspian Sea (Kazakhstan, Georgia), the Black Sea region (Ukraine, Moldova, Romania, Bulgaria) to Western Europe (France and Spain)”, declares Dinu Patriciu, the CEO of The Rompetrol Group.

The oil terminal is located 8.6 kilometers offshore the Black Sea and can receive ships of up to 160,000 dwt* (deadweight tons). Unloading/loading operations are performed by a floating mooring system connecting it to the oil tank farm of Petromidia Refinery by a submarine and land pipe. Compared to the route by Constanta port, this project shortens by approximately 33 kilometers the crude oil route through the pipe between the oil tanker and the refinery, and at the same time will lead to important cost savings of at least 4-5 USD/ton.

“Launching of the marine terminal is the best proof of effective implementation of the Rompetrol Group N.V. and KazMunaiGaz joint plans on developing the oil and oil products transportation logistics in Romania and on international markets”, states Daniyar Berlibayev, Vice-president of KazMunaiGaz National Company and Chairman of the Board of Directors of The Rompetrol Group.
At the same time, the expansion by 350% of the end product transit capacity by Midia Port Berth 9 (from 90,000 tons/month to 310,000 tons/month) will allow the mooring of ships with a maximum capacity of 10,000 dwt and of tank barges of up to 2,000 dwt. The project will also ensure, together with the new sea terminal in the Black Sea and that owned by KazMunaiGaz in Batumi port (Georgia) and the necessary framework for developing the trading activities of The Rompetrol Group in the region.       

Since the privatization of Petromidia Refinery, in 2001, The Rompetrol Group has allocated till the end of 2007 approximately 350 million USD for technological and environment investments, the projects being implemented under maximum technological efficiency and environment protection conditions, in virtue of current international norms (IPPC – European Directive on Integrated Pollution Prevention and Control).