Petrom to finish building new headquarters in late 2009

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Petrom will build its new headquarters in Bucharest, Straulesti area (northern Bucharest). It will be inaugurated in late 2009. The investment to be made is about 130 million euros.
 
"We have started building one of the most modern company headquarters in Europe, which symbolizes the progress of Petrom, the biggest company in Romania," said company’s executive president Mariana Gheorghe.
 
To carry out this project Petrom will spend about 130 million euros, of which 80 million are meant for the administrative buildings and 10 million for the ecological rehabilitation of the land.
 
Petrom has already concluded a preliminary contract with Raiffeisen Evolution in order to sell part of the land at Straulesti, to be more accurate, an area of 110,000 square metres, thus covering more than 70 percent of the costs of the Petrom City project.
 
Petrom City will cover a total area of 100,000 square metres and will use about 2,500 employees working with the headquarters in Bucharest and Ploiesti (southern Romania). Petrom City will be made up of five buildings, two oval administrative buildings, a building in classic shape, a data centre and a power station.
 
Petrom, together with the developer that acquired the remaining part of the land at Straulesti, will build the street infrastructure. Subsequently it will be donated to the City Hall.
 
Petrom allocated about 3.2 million euros for the street infrastructure, which includes both the streets and the necessary facilities: water supply, sewerage, gas, electricity and telecommunications.
 
Petrom is the biggest Romanian oil and gas company working in such fields as Exploitation and Production, Refining and Petrochemical Products, Marketing, Natural Gas and Energy. Petrom exploits oil and gas resources that are estimated at 0.9 billion barrels of oil equivalent, has a maximum annual refining capacity of eight million tonnes and about 550 fuel distribution stations in Romania.
 
The company also has an international network of 257 petrol stations, located in the Republic of Moldova, Bulgaria and Serbia. In 2007 Petrom turnover was 3,683 billion euros and the operational profit amounted to 933 million euros.
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