OMV Petrom invested 4.6 million Euro in the Romanian scientific research institute for oil industry

2015-12-06 13:29:15 - From the Print Edition

In late November, OMV Petrom, the largest integrated oil and gas producer in south-eastern Europe, announced that the Research and Design Institute of Technology (ICPT) of Campina, with the portfolio of OMV Petrom, was upgraded by almost 4.6 million Euro (20.4 million RON), and the new technology that results will make hydrocarbon deposits data more precise. 1.5 million Euro (6.9 million RON) were from European funds and the remainder from the producer OMV Petrom's own sources. According to a press release of OMV Petrom quoted by Ziarul Financiar, the modernization project also includes the construction of a warehouse for storing cores (geological samples collected during drilling from inside wells), which provides information about the quantity of oil from a reservoir, and could thus determine the most appropriate mining techniques. ICPT is part of Upstream Division, Unit Domestic Assets of the OMV Petrom and it is the only research centre for the oil industry in Romania. To date, it has 56 patents with four patents in review. ICPT Campina, founded in 1950, stores more than 150,000 samples of core geological sample boxes, which are about to be moved to the new warehouse. The earliest evidence comes from wells drilled in the interwar period, during which the cores analysis first become a practice in the industry.