Present in Romania since 1994, Weatherford consolidated its position in the past year, after acquiring the Baza de Operatiuni Speciale la Sonde (BOSS) Campina from Petrom, Romania’s largest company, Atlas Gip from businessman Ovidiu Tender, and the Forserco company and Aquafor assets from Gabriel Comanescu, owner of Upetrom and Grup Servicii Petroliere. At the end of October, the Competition Council initiated an investigation regarding the compatibility with the competition environment of the takeover of the Atlas Gip Ploiesti oil service provider by Weatherford International Eastern Europe. Its decision indicated that the operation does not affect competition.
The turnover of companies involved in this transaction in 2007 exceeded the €10 million threshold. “This operation does not result in creating or consolidating a dominant position on the defined relevant markets,” announced the Competition Council yesterday. The institution mentions that, because it owns obsolete equipment and technologies, revenues registered by BOSS Campina dropped some 50 percent from 2005-2007. The main clients of the perforating services are Petrom and state-owned natural gas producer, Romgaz, who said that the takeover “could have beneficial effects, through a rise in the quality of services.” Weatherford acquired 86.01 percent of the Atlas Gip shares in July 2008, from the Tender group, for RON 60.7 million (€16.8 mln). (T.V.)
