OMV Petrom estimates 9% reduction in production in 2021

by   CIJ News iDesk V
2021-03-25   10:38

The most important company in the energy sector in Romania, OMV Petrom, estimates that it will reduce its hydrocarbon production by 9 percent in 2021 and that it will implicitly reduce the volume of gas sold, offset by an increase in electricity.

However, the company forecasts a 32 percent increase in net profit, from RON 1.38 billion in 2020 to RON 1.82 billion in 2021, probably betting on the return of fuel sales and increases in electricity prices.

Regarding investments, their level will reach RON 3.3 billion, increasing by 14 percent compared to 2020. OMV Petrom intends to drill 40 development wells, and to carry out approximately 700 intervention works on wells.