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Ilinca Paun, Colliers International
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Romgaz business up 1.5 per cent while profit down by 17 per cent in 2013

The largest natural gas producer in Romania Romgaz Medias announced it achieved a turnover of EUR 881.2 million in 2013, 1.5 per cent increase compared to previous year, in the background of lowered delivered volumes of imported and domestic gas.

2014-02-27 17:02:48

In the context, the company profit diminished by 16.8 per cent and reached EUR 201.6 million. In 2013, Romgaz produced 5.65 million cube meters of natural gas, 0.2 per cent down compared to 2012, when the produces volume was of 5.663 cube meters, following a report of Romgaz delivered to Bucharest Stock Exchange. In Romania, Romgaz operates 3.255 drilling wells exploiting 148 commercial deposits.

Also, it owns 35 exploration wells in 9 perimeters. Romgaz owns 90 per cent of the overall domestic market of gas storage, with six storage deposits owned in Romania which can stock 2.76 billion cube meters of natural gas.

Last year, Romgaz announced it would pay an estimated amount exceeding USD 12 million if it decides to join the partnership of Exxon Mobil and OMV Petrom established for the exploitation and development of Midia offshore perimeter of Black Sea, according to the company's books published prior to listing.



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