PSN to Support 5 Onshore O&G Production Assets in Romania

Production Services Network has won a significant contract in Romania with Petrom EP, the exploration and production arm of Romania's biggest integrated oil and gas company.

PSN will support Petrom EP's five onshore oil and gas production assets across Romania.

PSN will draw on its global network to deploy international specialists, who will work with local engineers and project managers to streamline field operations, improve production efficiencies and extend the life of Petrom EP's Romanian assets.

This is PSN's first contract win in Romania and will enable the Company to establish an office in Romania and explore other business opportunities.

Jerome Lynch, PSN's Director of International Operations, said, "We are delighted with this contract win, our first in Romania. It is testament to the excellent working relationship that we have built up with other work we have done with Petrom in Kazakhstan. Our ability to deploy rapidly the required expertise along with our ability to enhance the skills of our local employees was a major factor in their decision. We look forward to delivering on this contract and exploring other opportunities with Petrom and OMV."

Commenting on the contract, Anton Lehner from Petrom said, "Having worked with PSN elsewhere, we were impressed with their capabilities and qualities. Working closely with our own engineers and managers, the PSN team will help us ensure that our field assets are managed to the highest international standards --improving production and staffing ratios and ultimately maximizing the asset value over their life cycle."