OMV Petrom allocated this year 8 billion lei for investments, of which 1.5 billion lei for acquisitions, OMV Petrom’s financial director, Alina Popa, announced on Monday, during a specialized event.

“We did not communicate the exact value of the transactions for reasons of confidentiality (from 2023 – n.r.), but what we communicated is for the year 2024. OMV Petrom will enter the most intense investment period in the company’s history. And practically we have a total value planned OMV Petrom investments of 8 billion lei, of which 1.5 billion lei is an estimated amount for acquisition transactions, both for the completion of these mentioned transactions and for other opportunities that we will identify this year,” said Alina Popa, according to Agerpres.

When asked which are the fields to which the company directs its attention, she mentioned: renewable energy, both wind and photovoltaic projects, biofuels, alternative solutions for mobility – electric charging networks, capture – storage of carbon dioxide and hydrogen.

“The M&A acquisition strategy is part of OMV Petrom’s strategy, a transformation strategy towards a future with low carbon emissions in which we aim to be the leader in the energy transition in South East Europe and in which we have assumed some very clear when it comes to reducing carbon emissions. We announced a budget of 11 billion (Euros – n.r.), 35% of our investments, practically 3.7 billion Euros are dedicated to activities with low or no carbon emissions carbon, being both acquisition projects and organic growth projects developed internally by OMV Petrom,” added Alina Popa.

She was also asked if there is a specialized division at the company level, and Alina Popa said that an own M&A team has been developed, but the company also works with consultants, both for identifying opportunities and for evaluating or signing contracts .

OMV Petrom will invest 11 billion euros by 2030 to reduce carbon emissions, this being the largest private investment plan in the energy sector in Romania, according to the company’s 2030 Strategy “Transformation for a future with low carbon emissions”, published last year on the website of the Bucharest Stock Exchange.