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Rompetrol Rafinare – Petromidia Petromidia Site The Rompetrol Group Refining Business Unit Looking into the future Refining Business Unit: Looking into the future CONTENTS Refining Business Unit Role Rompetrol Rafinare – Petromidia Petromidia Site Petromidia Refinery: Status Report Current Status & Achievements Reasons for Investments Petromidia Refinery: Investments Background Package Outlooks REFINING BUSINESS UNIT Role WE ARE PART OF SOMETHING SPECIAL Rompetrol Refining is the core business of The Rompetrol Group. We are processing the highest netback crudes or feedstock available and producing We want to be the most valuable products to be sold by other BUs, part of TRG. efficient, effective and innovative refining system in South Central Europe WE FUNCTION AS A COMPLEX MACHINERY Our BU is comprised of three performance units; Petromidia, Vega and Petrochemicals. WE HAVE CONTINUOUSLY GROWN AND IMPROVED OUR PERFORMANCE We have a responsibility We continue to improve our future by investing in the towards the people, local present. communities and environment WE STRIVE FOR EXCELLENCE We are building high ethics and principles for our business. REFINING BUSINESS UNIT Rompetrol Rafinare - Petromidia PRODUCTS & CAPACITY 100.000 BPSD (5 million t/year). Based on crude oil & products market conditions and analyses of financial indicator, refinery is operated at 3.8-4.2 mln t/y. Produces: LPG, gasoline, jet, gasoil, fuel oil, coke, sulfur. UNIQUE LOCATION Petromidia is the only Romanian refinery located at the Black Sea shore thus having the advantage of being supplied directly through the oil terminal located in the Port of Midia. Fully integrated in environmental layout, with respect for healthy air, water, soil. REFINING BUSINESS UNIT Rompetrol Rafinare - Petromidia PERFORMANCE It has the highest white products yield in the region (84%) and a Nelson Complexity Index of 8.3. Focuses continuously on: • product quality • energy efficiency • technological loss • Technological development EXCELLENT LOGISTICS Has its own port – Midia; for unloading crude oil through buoy and own facilities to expedite the refinery products with ships through Jetty 9; access to the Danube-Black Sea Chanel. Refinery products are sold on domestic (60%) and external markets: Georgia, Ukraine, Bulgaria, Turkey, Lebanon, Moldavia, Serbia, Greece, Egypt. REFINING BUSINESS UNIT Petromidia Site The Petromidia site, as an integrated system, hosts several TRG companies: • Petromidia Rafinare – crude oil refining • Rompetrol Petrochemicals – petrochemical unit • Rominserv – general contractor for maintenance and capital projects • Rompetrol Quality Control (RQC) – control and analyze the quality of feedstock & products • Midia Marine Terminal (MMT) – operator or berth facilities and oil tanks • Global Security Sistem (GSS) – handles security on the platform • Rompetrol Gas – handles LPG loading operations With more than 2,000 employees + 7 companies from TRG + 10 external companies, Petromidia is a living giant at the heart of Constanta’s industrial sector. PETROMIDIA REFINERY: STATUS REPORT Current Status and Achievements Rompetrol Rafinare has developed interconnections for a perfect synergy with Petrochemicals and Vega refinery by increasing value of unfinished products. In 2006, a dedicated program was launched to upgrade and optimize existing units in order to increase energy effectiveness and profitability. Since 2006, continuous dedication of the refinery personnel (supported by technical consulting companies) had a decisive contribution to: • energy efficiency (decreasing EII from 121 to 118) • technological losses (decreasing from 1.34% from total production to 0.65%) • optimization of refining operations (implementing little or no capital projects) As a result of this program, 90 millions USD were saved since 2006. By investing in people, Rompetrol Rafinare has created the tools for a sustained performance increase in the future. PETROMIDIA REFINERY: STATUS REPORT Reasons for Investments Europe Diesel Demand (kb/d), estimated in 2005 4300 4100 3900 3700 3500 3300 3100 2900 2002 2003 2004 2005 2006 Diesel Linear (Diesel) In 2002, we foresaw a general tendency for increased diesel consumption in Europe. Furthermore, fuel specifications became more and more restrictive, moving towards the Euro 5 carbon emissions standard. A general trend in the refining industry was to convert heavier and sour crude into European fuels. This trend was transformed into reality by Rompetrol and other major players in the refining sector by investing in deeper conversion units and cleaner technologies. In 2005, Rompetrol Rafinare began this ample investment program. PETROMIDIA REFINERY: INVESTMENTS Background Major drivers for investments in Petromidia refinery: • Environmental protection requirements • Fuels quality moving towards Euro 5 standard • Energy efficiency Rompetrol Rafinare had a continuous investment increase since KMG is shareholder: • 2008: 93.4 mil USD • 2009: 100.8 mil USD • 2010: 131.8 mil USD • 2011: 216.2 mil USD* (*estimated) Major investments 2008 – present • “Willacy” unit for processing of historical oil residues accumulated since refinery start-up • Gasoline tanks modernization for compliance with Volatile Organic Compounds directive • Jetty 9 in Midia Port modernization and 350% increase in transit capacity • Open new marine oil terminal (Buoy),to decrease operational costs of petroleum logistics • Turnaround of the Rompetrol Rafinare Units PETROMIDIA REFINERY: INVESTMENTS Package As part of major projects, Rompetrol started a comprehensive program in order to: • Align fuel production with Romanian and European legal requirements regarding fuel standards, namely Euro 5 (sulfur content of 10 mg/Kg) • Operate the refinery in accordance with the Romanian and European environmental legislation • Increase the sour crude processing capacity from 3.9 mil t/y to 5 mil t/y • Increase fuel selectivity to diesel production from 37% to 45% total yield • Increase the safety level and mechanical availability of the refinery PETROMIDIA REFINERY: INVESTMENTS Package The investment program contains nine major projects: Already completed in 2010: • Fluid Catalytic Cracking Unit revamping • Claus Unit revamping To be operated in Q4 2011: • Amine Unit revamping • Upgrade from VGO to DHDS unit • New Air Separation Unit (ASU) • New Flare system To be completed in Q1, 2012: • New Mild Hydrocracking Unit (MHC) • New Hydrogen Unit • New Sulfur Recover unit Since 2005, Rompetrol Rafinare invested $234 million in this program. Total estimated value upon completion is $377 million. PETROMIDIA REFINERY: INVESTMENTS Package These projects use the latest technology available and together with the equipments are high reliable and present minimum safety risks in operation: • MHC technology minimizes investment cost by increasing catalysis volumes; • MHC reactors use special Vanadium metal alloys to minimize weight; • Tail gas technology minimizes emissions through additional catalyst treatment; • Fully-automated operation using online analyzers. General contractor is Rominserv, a company of The Rompetrol Group. Major licensing and engineering companies national and international: IPIP (Romania), UOP (England), Axens (France), Technip (Holland), Haldor Topsoe (Denmark), Le Gas Integral (France). PETROMIDIA REFINERY: INVESTMENTS Package PETROMIDIA REFINERY: INVESTMENTS Package Updated refinery will bring an increase in Rompetrol brand value through continuous compliance with European fuel quality standards and latest legislative requirements in terms of environmental protection. This package will allow Rompetrol to benefit from all advantages of processing cheap high-sulfur crude and produce 100%-compliant Euro5 fuels. More than 2,000 employers are involved in construction works. Once operational, these units will create new jobs. The program will keep in operation one of the four remaining Romanian refineries. KMG will consolidate its position in the European refining market and will optimize its processing chain, from exploration to refill stations. PETROMIDIA REFINERY: INVESTMENTS Outlooks Rompetrol will continue investments even as new units are put in operation. Modernization of Delayed Coker Unit is scheduled to be completed by the end of 2012, as engagement to environmental authorities and for decreasing technological losses. Aligning emissions with legal requirements by the end of 2012 is a major project in progress for Rompetrol. Rompetrol Rafinare, as Romanian brand, will continue to improve its performance and will aim for a position among the top 25 refineries in Europe. Thank you!.
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