COMPANIES ECONOMY

“Arab Elephant” to be followed by another 200 manufactured at Vulcan Bucharest

  • The most efficient oil rig will be delivered to the Persian Gulf

 

SC Vulcan S.A. CEO Remus Vulpescu emphasized: “The new oil rig dubbed the Arab Elephant will be sold in the Persian Gulf area, an area in which we have signed contracts for 200 rigs, their value being estimated at up to EUR 22 M in 2017. The rig is financed from own sources in proportion of 100 per cent, is designed to have a lifetime of 40 years on any oil extraction platform and is tested at temperature ranging from -25 degrees to +45 degrees Celsius, the chain of optimizations offering an energy efficiency hike of 30 per cent.”

The Bucharest-based Vulcan plant has delivered over 25,000 oil extraction pumping units to approximately 25 countries on 5 continents. Likewise, Vulcan is also the manufacturer of the industrial steam boilers used in the big Romanian thermal power plants such as the ones in Turceni, Rovinari, Craiova, Deva, Drobeta-Turnu Severin, Oradea, Iasi, Brasov, Constanta.

In the next 3-5 years Vulcan aims to have external sales that would represent a minimum of 75 per cent of its turnover, it has managed to stop collective layoffs and has already hired back approximately 10 per cent of the previously sacked labour force.

Existing contracts cover 85 per cent of the Vulcan plant’s current production capacity for the next 9-12 months, pointing to a real growth potential of its production capacity given rigorous efficiency management. Vulcan plans to prove that Romanian industry can once more become competitive on big international markets, through adequate adaptation and modernization measures. Vulcan plant is part of the Tender Group since 2003.

 

 

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