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OMV Petrom S.A. (PETB)

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Wednesday 17 April, 2019

OMV Petrom S.A.

Sanctions from National Environmental Guard

RNS Number : 5131W
OMV Petrom S.A.
17 April 2019
 

OMV Petrom S.A.

Ad hoc Report

 

In compliance with Law no. 24/2017 on issuers of financial instruments and market operations and Financial Supervisory Authority Regulation no. 5/2018 on issuers of financial instruments and market operations

 

Date of report: April 17, 2019

Name of issuer: OMV Petrom S.A.

Headquarters: Bucharest, 22 Coralilor Street, District 1, ("Petrom City")

Telephone/fax number: +40 372 161930/ +40 372 868518

Sole registration number at the Trade Register Office: 1590082

Fiscal attribute: RO

Trade Register Number: J 40/8302/1997

Share capital: 5,664,410,833.5 RON

Regulated market on which the issued shares are traded: Bucharest Stock Exchange and London Stock Exchange

 

Significant event to be reported:

Sanctions from National Environmental Guard in connection to the activity of gas and petroleum transportation via pipelines to Midia Processing Plant 

 

OMV Petrom SA (OMV Petrom) received from the National Environmental Guard a sanction for carrying out at the Midia Processing Plant working point the activity of gas and petroleum transportation via pipelines without having a renewed environmental permit. The sanctions applied are a fine amounting to RON 60,000 and the measure to suspend the activity until the environmental permit is obtained.

OMV Petrom challenged in court the fine and the respective measure. Until the court's final decision the measure is suspended.

We are working with the environmental authorities to obtain the renewal of the environmental permit. The environmental permit was up for renewal in December 2018 and had been applied for by OMV Petrom since October 2018, together with the supporting documents, in full compliance with the legal term prescribed by the applicable regulations. The process of the authorization renewal is complex and was prolonged more than expected due to additional requests by the competent environmental authority.  

At the end of March, following complaints from local residents about land being contaminated with petroleum residues, the National Environmental Guard started an investigation in Vadu-Corbu. According to the findings report communicated by the National Environmental Guard, the Vadu spill could not be linked to the activities of OMV Petrom in the area.

Midia Processing Plant is in operation since September 1989 and processes the gas production coming from the Black Sea.

An eventual shut down in of Midia Processing Plant would lead to a complete halt of the Black Sea production, currently at around 25,000 boe per day.

 

 

Christina Verchere                                                                   Peter Zeilinger

Chief Executive Officer                                                               Member of the Executive Board              

President of the Executive                                                          Upstream

Board                                                                                                                                         

 


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