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“OMV Petrom current strategy for upstream activities in the Black Sea region”

BLACK SEA
OIL & GAS
FEATURING:
Peter Zeilinger

Senior Vice President Exploration, Production and Development

OMV

Interview with Peter Zeilinger, Executive Board Member Responsible for Upstream, OMV Petrom about the attractiveness of the energy sector in the Black Sea Region, investment climate, and current strategy to expand OMV Petrom upstream activities in the region.

Peter will be participating in the session Black Sea Upstream: how not to miss the short window of opportunity.

6th October - Conference Day 1 | Understanding the potential of the region

OMV Petrom

OMV Petrom is the largest energy company in South-Eastern Europe, with an annual Group hydrocarbon production of 55.4 million boe in 2019. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through 802 filling stations, at the end of June 2020, under two brands – OMV and Petrom.

OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.011% stake in OMV Petrom. The Romanian State, through the Ministry of Economy, Energy and Business Environment, holds 20.639% of OMV Petrom shares, Fondul Proprietatea holds 9.998%, and 18.352% is the free float on the Bucharest Stock Exchange and the London Stock Exchange.

OMV Petrom is the largest contributor to the state budget, with contributions of 30.4 billion euro in taxes and dividends paid between 2005 and 2019.

Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007-2019, the company has allocated approximately 66 million euro to develop communities in Romania, focusing on environmental protection, education, health and local development.

On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change.

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