Romania, Bucharest, Sept. 27 /Trend D. Mukhtarov/
The Romanian company 'Rompetrol' which is a branch of Kazakh national oil and gas company "KazMunaiGas" has completed modernization of oil and gas processing plant Petromidiya in Black Sea, Director General of "Rompetrol" Janat Tusupbekov reported to journalists on Thursday.
The increase of processing capacity from 3.8 to 5 million tons of raw material per year has been reached. The plant has transferred to euro 5 fuel standard ", Tusupbekov added.
In his words, the completion of Petromidia's modernization program enables the next step in company's development- strengthening of company's presence at the markets of Black Sea and Mediterranean pool, as well as its expansion to new markets, such as Ukraine and Turkey.
The total volume of investments in plant's modernization program amounted to 380 million dollars, Tusupbekov added.
According to " KazMunaiGas"'s first vice president Daniyar Berlibayev, the completion of modernization program completely supports Kazakhstan's aims on development of oil export routes to European markets.
"'Petromidiya' refinery plant is a strategic asset for "KazMunaiGas". The plant is technically capable to fully process oil, exported from Kazakhstan", Berlibayev stated.
He also said, 170 million dollars from the total volume of funds was contributed to construction and integration of new installations.
The Rompetrol Group is a 100-percent subsidiary of "KazMunaiGas". "Rompetrol" is a major oil and gas holding of Romania. It consists of three plants, as well as over a thousand gas stations in Romania, France, Spain, Moldova, Ukraine, Bulgaria and Georgia.
The company holds 25 percent share of oil retail sales in Romania, 3.5 percent of market in France and 1.5 percent- in Spain.
'Rompetrol' is currently operating in 13 countries in the fields of service and training.
"KazMunaiGas" is Kazakhstan's national operator for exploration, production, processing and transportation. A 100-percent stake in "KazMunaiGas" is owned by Kazakh National Welfare Fund "Samruk-Kazyna".