80 Mln EUR for Petrom New Headquarters

Press release
Ziarul BURSA #English Section / 5 aprilie 2007

Petrom, the largest oil and gas producer in South-Eastern Europe, has signed with SC Alpine SA the construction contract for the company"s future headquarters, Petrom City. The contract was awarded after a tender to SC Alpine SA. The contract value is around 80 million EUR. The building"s construction work is estimated to start at the end of 2007

Mr Reinhard Pichler, Petrom"s CFO: "With this significant contract we have laid the foundations for a centralized HQ which will be built over various stages with completion at the end of 2009.The building will be state-of-the-art and include all modern facilities according to international standards."

Petrom is building Petrom City as a centralized HQ in order to offer a single location for all Petrom employees working in six offices in Bucharest and other central locations. Petrom City, will be built on a Petrom owned land in northern Bucharest, at Străulesti, on the premises of a former fuel storage. During the second world war, following the bombardments, the tabks were damaged and caused the soil to be contaminated on specific areas.

Therefore, at the beginning of this year the company started at Straulesti the largest ecological rehabilitation project in Romania, the investment being estimated at approximaqtely 10 million EUR.

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