Rompetrol Rafinare, the scheduled general overhaul of the Petromidia Refinery

Rompetrol Rafinare, member of KMG International, will shut down the Petromidia refinery and the petrochemistry division between October 11 and November 20, 2015 in order to perform maintenance works for the scheduled general overhaul. During this period, the company will ensure deliveries to customers from the current inventories and the regional market. “The general overhaul takes place once every 5 years, according to the current legislation on the operation of this refinery, and this year’s total investment for the Petromidia refinery and petrochemistry division overhaul amounts to USD 77.5 million. The scheduled technical overhaul is aimed at ensuring a high level of operational safety for reduced maintenance costs, and to improve operational efficiency by providing high mechanical availability“, said Yedil Utekov, general manager of Rompetrol Rafinare. The works are carried out and coordinated by the Rominserv company, the general contractor of KMG International. The overhaul will involve 44 companies and a total of 3600 employees. The maintenance works are aimed at ensuring a 96.5% mechanical availability at the re-commissioning of the installations. To ensure the safety of the works and the zero accidents target, the Petromidia platform companies took additional work safety measures and trained all subcontractors active on the Petromidia platform over this period. The general overhaul is also aimed at ensuring the full corrective and preventive maintenance of equipments, and the technical inspection of the plants which are required to keep the refinery operating at its rated capacity. The Petromidia refinery has an installed processing capacity of 14,000 tons/day, and in 2014 processed a record 5.05 million tons of raw materials. The refinery operated at full capacity last year, without any scheduled or unforeseen downtime (365 days). The increase of production volumes continued in the first half of 2015, when the amount of processed raw materials exceeded by 11% the same period last year to reach 2.6 million tons. In the first semester of 2015, the petrochemistry division processed 8.2% (91.6 thousand tons) more than in the same period last year. The petrochemistry division is the sole Romanian producer of polypropylene. Rompetrol Rafinare recorded a consolidated net profit* in amount of approx. USD 18 million in the first semester of 2015, while the consolidated operational result (EBITDA) was also on the increase to USD 56 million, doubled from semester 1 2014. Petromidia refinery is the largest Romanian facility of its kind, and its performances were achieved following the investments of KMG International and its sole shareholder, the national oil and gas company of Kazakhstan, KazMunayGas, in order to increase the processing capacity to more than 5 million tons per year and to modernize the industrial plants.

*Non-audited, consolidated results. The report was prepared according with the International Financial Reporting Standards (IFRS).

Source: www.rompetrol.com