Competition Council greenlighted the takeover of the local subsidiary of Petrofac by Expert Petroleum, according to a press release received by energynomics.ro.

Expert Petroleum, whose main activities concentrate on “services related to the extraction of crude petroleum and natural gas,” is a member of the GMS Holdings trust.

Petrofac Facilities & Support Solutions, a member of the group Petrofac, is a services provider for the oil and gas industry.

In February, Petrofac said it is going to exit operations at the Ticleni oil field, in Romania’s southwestern county Gorj, due to low crude price of oil. With some 780 employees, Petrofac managed Ticleni operations for OMV Petrom under a contract signed in 2010 which provided a 15-year refurbishment of mature oil fields in this area.

Expert Petroleum was founded in 2005 and specializes in rejuvenating abandoned oil and gas fields.