In a statement released yesterday on the Bucharest Stock Exchange, OMV Petrom announced that they plan to invest roughly EUR 70m at the Petrobrazi refinery to replace four Coke Drums.

The largest energy company in South-Eastern Europe OMV Petrom is planning to invest EUR 70m at Petrobrazi refinery to replace four Coke Drums that are crucial during the refining process. These drums ensure the stage of upgrading heavy components to superior products at very high temperature and are designed to last over 5,000 operating cycles and the envisaged lifespan is over 20 years.

Note that the replacement will take place between 2021 and 2023 and this year will be invested approximately EUR 11m.

Comparing to the previous year’s investment, this EUR 70m investment is between 8% and 13% of total OMV Petrom Group CAPEX in 2016-2020 period.  

OMV Petrom has invested approximately EUR 1.8bn in the refinery, one third of this investment contributing to the reduction of the environmental impact. This indicates the significance of this investment that makes 4% of all OMV Petrom investments in Petrobrazi refinery.