The Romanian Competition Council analyzes the transaction through which OMV Petrom outsources some well intervention and repair services, operations related to oil and natural gas extraction and production activities, together with servicing assets and employees, to the consortium formed by Christof MB Well (RO), J. Christof E&P Services (RO)and MB Well Services (Germany).

The consortium of the three firms submitted a final bid and was designated as the highest-ranked bidder for the Moesia Production Area.

The procedure involves the sale of movable property, the rental of immovable property, as well as the transfer of employees to the consortium. At the end of the contract period (eight years from the date of signing the notification of its entry into force by OMV Petrom and the Consortium), certain assets and employees will be returned to OMV Petrom.

In accordance with the Competition Law provisions (no. 21/1996), this operation is an economic concentration that must be authorized by the Competition Council.

andrei@romania-insider.com

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