Romanian Competition Council said that it is analyzing the transactions through which OMV Petrom outsources some well repair services, operations related to oil and natural gas extraction and production activities, together with the assets and service employees, to the consortium led by Christof MB Well.
OMV Petrom operates oil and natural gas fields in different regions of Romania, so it is essential to ensure the continuity of daily operations carried out safely and in accordance with the provisions of environmental legislation. In order to ensure a continuous, uniform and integrated provision of activities auxiliary to the main activity of oil and gas extraction and production, OMV Petrom has outsourced these services to specialized external contractors. The purpose of the services is to significantly improve the quality standards and to increase the efficiency, as well as the productivity, by implementing some services at the latest standards and by ensuring a continuous transfer of know-how.
The consortium led by Christof MB Well submitted a final bid and was designated the highest ranked bidder for the Moesia Production Area. The procedure involves the sale of movable property, the rental of real estate, as well as the transfer of employees to the consortium.
The Competition Council said that, in accordance with the provisions of the Competition Law, this operation is an economic concentration that must be authorized by the Council. The competition authority will assess this economic concentration in order to establish its compatibility with a normal competitive environment and will issue a decision within the terms provided by law.
