Petrom History

Year History January The companys name is OMV PETROM S.A., following the Decision of the Extraordinary General Meeting of Shareholders held on October 20, 2009. The companys brand and logo remain unchanged. April We extended our power production projects portfolio by acquiring S.C. Wind Power Park S.R.L. Wind Power Park owns a fully permitted wind power generation project in Dobrogea (Southeast Romania) with a designated capacity of 45 MW, which can be extended to 54 MW. Petrom will construct and operate the wind power plant, which is estimated to enter production in the second half of 2011. September Petrom announced the sale of the 74.9% stake in Ring Oil (Russia) to its minority partner Mineral and Bio Oil Fuels Limited (MBO). Petrom announced having entered a partnership for onshore exploration with Hunt Oil Company of Romania, an affiliate of the American company Hunt Oil, one of the worlds largest privately owned oil companies. The partnership facilitates joint exploration of two onshore blocks located in Eastern Romania (Adjud and Urziceni). December Petrom inaugurated Petrom City, the headquarters that will host the companys central operations. Situated in the Northern part of Bucharest, it will be used by around 2,500 employees from 7 headquarters of the company in Bucharest and Ploiesti. The employee relocation process started in the fourth quarter of 2010 and is estimated to be finalized in the first half of 2011. March Petrom secured by means of EBRD a corporate senior unsecured loan of up to EUR 300 million. The credit will support the environmental and energy efficiency investments of the company May Petrom ensured the funding of the first fully private power generation project, The Brazi power plant. Total value of project amounts to around EUR 500 mn. First loan granted by EIB to Petrom, in amount of EUR 200 mn while EBRD contributes with a new loan amounting to EUR 200 mn. The construction of the plant began in June. June Petrom started oil production on Komsomolskoe field in Kazakhstan. Initial production at 1,000 bbl/d; plateau rate of 10,000 bbl/day to be reached in 2010. Approximately EUR 180 mn were invested in this project August Petrom has registered its first exploration success in Russia. Lugovaya-1 well tests confirm both oil and gas discoveries October Petrom inaugurated a new gas processing plant within the oil terminal at Midia. Total investments in the project amounted to around EUR 90 mn December Petrom finalized negotiations with Oltchim for the transfer of petrochemical activities from Arpechim. The transaction includes the payment of fixed assets, hydrocarbons stocks and other current assets related to these activities. Employees of the petrochemical activities to be taken over by Oltchim. Petrom maintains its strong financial position by securing a new credit facility by securing a EUR 500 mn loan. The funds will be used to continue the investments for the companys modernization and general corporate needs March Petrom and Romgaz signed with the Government of Romania a protocol that regulates their participation in the Social Fund. Petrom contributed RON 80 mn to the Social Fund in 2008. June Petrom revised its strategy for 2010 and re-affirmed its objectives in the new international context July Petrom presented its plans to promote projects in the field of renewable energy and energy efficiency October Petrom finalized a transaction with the Association of Petroms Employees for the acquisition of an additional stake of 20.87% in Petrom Aviation, increasing its participation in the company to 69.37% October Petrom obtained a credit facility worth around EUR 375 mn for a period of 3 years December Petrom and ExxonMobil Exploration and Production Romania Limited signed an agreement to cooperate in exploring the hydrocarbon potential of the deepwater portion of the Neptun Block offshore Romania. Petrom signs an agreement to sell its entire 95% participation in Oztyurk Munai LLP in Kazakhstan to En-Gin LLP, a Kazakh oil and gas company. Petrom signs the construction contract for Petrom City, the new headquarters which will host around 2,500 employees. Petrom decides to exercise its pre-emption right regarding the purchase of a 55.53% stake of Shell Gas Romania SA and a 60% stake of Trans Gas Services SRL. Petrom announces the first exploration discovery in Romania based on the application of new technologies discovery well 570 Torcesti. Petrom sets up a new petrochemical company, Petrochemicals Arge, to which it intends to trans fer the petrochemical activities of Arpechim refinery. Petroms Supervisory Board approves the project to build a gas fired power plant with a capacity of 860 MW at Petrobrazi. Petrom starts to deliver 2% biodiesel content fuel on the Romanian market. Petrom signs a EUR 328.5 mn contract for the acquisition of the oil services activities of Petromservice.

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

Petrom announces the establishement of a new company, Petrom Distribuie Gaze SRL, 99.99% owned by Petrom SA and reporting to Petroms Gas division. Acquisition of 99.9% of the shares in OMV Romania, OMV Bulgaria and OMV Serbia; Acquired from MOL 30 filling stations and 95% stake in Aviation Petroleum; Gas discovery in Jusaly, Kazakhstan, First tests at South Rovnaya 1 exploration well show a flow of 200,000 m of gas and 70 m of condensate per day; Approval of USD 190 Mn development plan for Komsomolskoe oil field in Kazakhstan; Russian entry through acquisition of a 74.9% stake in Ring Oil Holding & Trading Ltd; Introduction of SAP, the leading ERP System. Investment exceeding EUR 50 mn with expected implementation deadline at end of 2007; Contract signed with Linde Group for the construction of a new gas processing plant at Midia, all the gas produced off-shore will be treated by the new unit, tripling of the gas oil production. Petrom's structure was reorganized into six divisions, out of which three are operational ones; Launching the new concept "Full Agency"; New products launched on the market: Top Premium 99+ and Top Nordic Diesel; Petrom has started three programs of 3D seismic exploration in Romania; Petrom is helping the victims of the floods with over EUR 1,300,000; Petrom anounces the new prices policy; Petrom launches the first PetromV filling station; Petrom won the exploration licenses for three new blocks in Romania. Submission of engaging offers. Selection of companies OMV, Occidental and MOL for negotiations. Acquisition of 51% of the share capital by OMV Austria. January - Initiation of the first milestone of the privatization process. Preparation for the privatization. February - divestment of the maintenance activities of Arpechim and Petrobrazi activities (2,630 employees 1,598 from Arpechim and 1,032 from Petrobrazi. May - End of the first milestone of the privatization process, resulting in a feasibility study of the privatization including the company assessment, presentation of the privatization options and plan. August - End of the first stage of the privatization process along with the approval of the privatization strategy of SNP Petrom as per the Government Act no 924 of August 14, 2003 followed by the press announcement for the submission of interest letters on August 26, 2003 September - Submission of interest letters by 15 companies and consortiums interested by the take-over of the company out of which 11 companies were selected as they met the qualification criteria. October - Distribution of the Presentation File and access to the Data Room by the potential 11 buyers. November - Submission of preliminary offers by 7 of the 11 selected companies. January 2002 - externalization of the mechanical and energetic activities out of Petromar Constanta branch (785 employees). March - externalization of Petroserv branch who was taken over by SC Petrom Service SA along with its personnel. April - beginning of the privatization process thorugh the publishing in the Romanian and international press of the announcement for the selection of the consultant and 12 banks submitted their interest letters; seven of them were selected. August - signing the agreement with EBRD for the amount of USD 150 mn which represented a pre-privatization syndicate loan. October - improvement of the Fitch rating of the debts that are not guaranteed by the state and the eurobonds issue of EUR 125 mn from B+ to BB. November - the Board of Directors approves the purchase of 19 lands in Yougoslavia with the purpose of building filling stations. December - nominalization of the privatization consultant namely the syndicate formed of Credit Suisse Boston and ING Barings Limited. The construction and modernization of 24 separating parks. The distribution department infrastructure: 162 depots, 669 filling stations of which 578 are gas stations and 91 domestic use stations, 24 auto gas filling skids. 3 new filling stations began operating, 54 were modernized and ecological and modernization works were performed at 10 depots. In Kazakhstan Alma Ata: the first well is drilled and the second one is finished in 2002. In Iran the opening of a Petrom Representation in Teheran in order to promote the company's purposes on this

2000

1999

1998

1997

market. Greece: in December, the Sea Drilling Contract was signed with Kavala Oil, for drilling works on the ATLAS platform, in the Greek territorial water. Environment protection: Doljchim subsidiary obtained the environment license. In September the Petrom shares were listed at Bucharest Stock Exchange. Eurobonds issue: in July, MPF approves the launching by SNP Petrom of Eurobonds issues and Luxembourg Stok Exchange approves the listing. The inaugurating of one of the most modern hospitals in Romania at the PETROM Videle subsidiary. In Hungary, the development of Petrom's oil products distribution network continues by the construction of new filling stations in Nagylak, Szeged, Budapest and Hegyshalom. The negotiations for the set up of a strategic alliance between PETROM, KAZAHOIL and KAZTRANSOIL in order to create a crude oil pipeline from Kazakhstan to East and Central. The development of Petrom oil products distribution network in the Republic of Moldavia began by the purchase of four filling stations. 62 and 62 bis Pescarus Wells were finished and the 63 Pescarus Well began drilling. In view of collecting and separating crude oil and natural gas in parks, Petrom continued to construct and modernize over 30 parks (15 parks were already in operation), some of them being finished in the first semester of 2001. The construction of 9 new, ecological separating parks and the modernization of another 28. The BLUE LINE began operating, a non-stop telephone line for the public. The modernization of 40 distribution stations and 3 new filling stations. In Kazakhstan: the negotiations in view of purchasing of 95% of the social shares of the Kazakhstan company Oztyurk-Munai Ltd.. In Iran: a permanent representative in Teheran studies the local market in order to find cooperating opportunities with Iran, so that Petrom could open a representation in this country. In Hungary: the construction of the filling station and car wash in Nagylak; Petrom Hungary performed repair works, created the industrial railway infrastructure and put into operation the Telekgerendas oil products depot. In Moldavia: The opening of the first oil products distribution station in Chisinau and the final works at the Ceucari complex, which began operating in March 2001. In December, the transfer agreement between ELF Petroleum Romania BV, owned by ELF Aquitaine, and CONOCO U.K. Limited was signed. The launching of RO3 20W40 Super 3 multigrade motor oil. Petrom discovered the biggest Romanian oil field in the last 25 years on the Black Sea platform through Pescarus 60 well. The Doljchim Craiova plant was purchased becoming a new PETROM subsidiary. The first stage of the organization restructuring meaning the dismissal of 13.000 employees from the up-stream sector and the first stage of the company's privatization through a capital increase. Petrom signed an agreement with Universal Oil Products USA in view of the modernization of Arpechim and Petrobrazi subsidiaries. PETROM inaugurated the first Commercial Complex in Hungary which includes: a filling station, a motel, a restaurant, car washes, a store for complementary products and parking. PETROM becomes the holder of the following oil fields of Kazakhstan : Tasbulat, Turkmenoy and Aktas, and begins the social operations in view of exploration and extraction. The Essar Oil Limited contract was signed for commissioning, development and production works. In the off shore Block BB - OS5, in India. The mixed society Arab Petro BASE Ltd. of PETROM and BASE Group Intl. (USA) was set up. INCERP Ploiesti, a new subsidiary fuses with the National Oil Company. The main objectives of the privatization strategy are established. The association between PETROM and ELF AQUITAINE was signed, as well as the agreement concession regarding the share exploration and development of the Neptun Block on the Black Sea. The society standards were drafted and approved at the same time with the appearance on the market of: Super Plus unleaded gasoline, the first 20W40 oil engine of the RO3 products. The Licence for exploration and commissioning for the Jusaly Kazakhstan perimeter was obtained. The Orizont Platform performed drilling works for the Energy Company in Bangladesh. The set up of PETROM Hungary KFT branch and Petrom representations in Azerbaijan and the Republic of Moldavia. The set up of the National Oil Company PETROM S.A.

1996 1995 1993 1992 1991 1987 1984 1979 1975 1974 1954 1951 1949 1948 1945 1942 1940 1937 1936 1931 1927 1926 1925 1924 1923 1921 1919 1917 1914 1912 1911 1910 1908 1907 1906 1905 1904

The Central Production Platform on the Black Sea is put on stream. The set up the National Agency for Mineral Resources. The new Oil Law is promulgated. The set up of the Romanian section of SPE. PETROM becomes member of the Petroleum Recovery Institute - Canada. The Orizont platform crossed the Bosphorus strait and drilled in the Marmara Sea. The oil production decreasing is stopped in Romania. The set up of the Autonomous Oil Administration PETROM SA. The Romanian specialists managed to put out the fire and keep under control 6 erupting wells. The first crude oil production of the Lebada Est production of the continental platform of the Black Sea. The first off shore water injection operation. 7000 Baicoi well reached the depth of 7025 m. The 10th World Oil Congress is held in Bucharest. The first off shore drilling platform is set on position on the continental platform of the Black Sea. A national programme of increasing the recovery of crude oil of the oil fields is created. The first gas deethenizing station was built in Pitesti. The extension of crude oil production stimulation (hydraulic fracturing, physical and chemical treatments). The first water injection operation on an industrial scale at Sarmatian Boldesti oil field, at a 2600 m depth. The setup of the first Research and Design Center in Ploiesti, Campina and Bucharest. The first deep pumping wells are drilled on Tintea structure (2800-3100 m). The setup of PETROLIFERA MUNTENIA Oil Company. The set up of SOVROMPETROL Company. Oil production is governed by the Oil Law. The first gas storage at Levantin Boldesti reservoir, performed by ASTRA ROMANA Company. The gas extracted of the Meotian Margineni condensed gas field is reinjected to maintain the reservoir pressure. The first gas injection on an industrial scale by ASTRA ROMANA, at Meotian Boldesti oil field, at a depth of 1800 m. The first gas injection at Dacian Moreni oil fields. The execution of the first mechanic logging and the first gun casing perforation. The first use of the preventer at 100 AR Moreni well by ASTRA ROMANA. The first production of crude oil of the Sarata Monteoru mine, which continues to function up to now. The thermo-sorbon process is applied. ASTRA ROMANA, the Romanian division of SHELL company begins the tubing of an 11 inches pipe at 770 m, at "204 AR" well, the cementing operation being achieved by using two plugs. The appliance on an industrial scale of the high compression and absorption process in Moreni and Campina. The testing of the gas-lift extraction system at the 15 AR well, in Moreni, by ASTRA ROMANA. After the First World War, Mining Credit IRDP and ROMANIAN PETROLEUM and almost all the companies previously setup continue their activities. The oil fields are taken over by the German Company ERDOL BETRIEBS GEMEINSCHAFT. The first gas transportation pipeline of Europe is put into operation (Sarmasel-Turda, 50 Km x 10 inches). The setup of Petroleum and Mines Section within Roads and Bridges Construction School. The first use of tacit type valve, the first eruption preventer system. The first use of valves. The setup of ASTRA ROMANA Company. The setup of oil equipment and installation manufacturing and repair workshops in Ploiesti. The Romanian-American Company drilled in Moreni the first Rotary-system well (Speranta well). The third International Oil Conference is held in Bucharest. The testing of the first air-system extraction by STEAUA ROMANA, in Campina. The setup of French-Romanian Company UNIREA AQUILA. The foundation of the Romanian Geologic Institute. The setup of CREDITUL MINIER and VEGA. The setup of CONCORDIA Company. The setup of the School for Drilling and Refining Foremen in Campina.

1903 1898 1896 1895 1882 1861 1857 1856

The setup of the Romanian-American Company STANDARD OIL. STEAUA ROMANA finishes the construction of the refinery and central workshops. The setup of the Romanian Company STEAUA ROMANA. The Law of Mines updated in 1924 and 1937 governs the crude oil production. The setup of the Geological Bureau. The first well drilled in Romania, at a depth of 150m, using wooden rods and auger type bits. The first country to produce 257 tons of crude oil is Romania (mentioned in "The Science of Petroleum"). First production, in Ploiesti, of lamp oil to be used for street lightning.