11.6 C
May 6, 2021

OMV Petrom invests EUR 18 M in storage infrastructure

OMV Petrom has finalized its works on upgrading its oil storage site in Cluj, following an investment of approximately EUR 18 M, a company communiqué informs. The investment is part of the storage infrastructure modernization programme that entails the construction of three new storage sites and the upgrading of three others.

“With three newly built terminals, in Jilava, Brazi and Isalnita, and two others modernized, in Bacau and Cluj, we are very close to attaining the target proposed as part of our “3+3” strategy on modernizing the oil storage sites in order to fully support the Group’s distribution network. The investments made so far in constructing and modernizing five storage sites have totalled approximately EUR 125 M in the last six years. The storage site in Cluj will help us raise the efficiency of our operations while lowering operating costs,” Neil Anthony Morgan, member of OMV Petrom’s Executive Board, responsible for Downstream Oil, stated in a communiqué.

In Cluj, the oil products are stored in aboveground tanks with a total capacity of 22,000 cubic metres. The storage tanks have automated volume and temperature measurement, flow control and fire protection systems. The storage tanks have steel walls and are connected to an automated leak and fissure detection system. Flow control is automated. The Cluj storage site will supply oil products to Romania’s northwest region.

All five storage sites are fully automated and respect Romanian and European standards and norms in this domain. The five storage sites have a total storage capacity of 87,000 cubic metres and are among the most modern and safest storage sites for oil product distribution in Europe.

Related posts

OTP Bank launches OTP POSibil, an innovative application that transforms the mobile phone into a POS and allows accepting card payments


International Green Technologies and Investments Center: Kazakhstan’s platform for the development of a new-format economy


Current absorption rate of European funds on Operational Programmes stands at 5.47pct at end of last week

Nine O' Clock