Outstanding Results – 2017 energynomics Awards nominations

We begin today to present the 2017 nominations for the energynomics Awards, with the Outstanding Results section. Only one of the projects below will be awarded during the Gala from December 7th, but every company and everyone involved in these projects deserve our respect and the widest promotion. We thank all the companies and personalities involved in this effort to draw the image of the Romanian energy industry in 2017 through its achievements!

Romanian Commodities Exchange – The spectacular increase in the quantities of natural gas traded

Since the acquisition of the centralized market operator license (July 2013), the Romanian Commodities Exchange managed to attract most natural gas suppliers and producers operating on the domestic gas market, along with numerous end-users from different sectors and sectors of activity so that the level of volumes traded on the electronic platforms that RCE manages and owns is today at the level of 79.6 million MWh, which represents about 75% of the annual national consumption of natural gas in Romania.

The constant focus of the Romanian Commodities Exchange to boost wholesale and retail transactions on the Romanian market has materialized in its position as a stock market that hosts natural gas transactions and soon will evolve alongside a prestigious European compensation house in a a partnership that will meet the need to unblock market liquidity. It should also be noted that during these years, the Romanian Commodities Exchange made in-house and implemented new software solutions, respectively, provided an additional trading system for the participants, which offers them the possibility to conclude real time, transparent and non-discriminatory transactions with natural gas for any period of time, including on the short term.

Oltenia Energetic Complex – Operational record at the Rovinari Electric Power Plant

During the winter, the Oltenia Power Complex covered a share of up to 35% of the energy market and provided around 30% of the system services required at national level, with one of the Rovinari Electricity groups recording approximately 5000 hours of uninterrupted operation.


As the energy demand increased in winter, the Oltenia Energy Complex operated with 11 energy groups, with instantaneous values of over 3,000 MW, and the coal proved once again to be the safest source of electricity production, regardless of the weather conditions, able to maintain the balance and safety of the energy system.

In such a difficult period, an energy group of the Rovinari Power Plant registered a real record for the Romanian thermo energy, cumulating about 5000 hours of uninterrupted operation. After 208 days of continuous operation, it stopped, not because of any technical problems, but because of the low energy demand at that time (end of March 2017).

Conpet SA – The highest dividend yield offered by a listed company on the Bucharest Stock Exchange

Board of Directors and executive management of CONPET S.A. have aimed to provide investors with a stable and attractive dividend and they address investors in a strategy focused on increasing dividend value and maximizing return on invested capital, elements that have positively influenced the company’s results and investor confidence in CONPET shares.

The shares of CONPET S.A. have been traded on the Bucharest Stock Exchange since September 5, 2013. Each year, CONPET S.A. has provided a steady dividend distribution rate and an attractive dividend yield compared to other companies listed on the Premium category of BSE. Over the past four years, the company has applied a dividend distribution rate of between 85% and 93% of its net profit.

In 2017, CONPET also granted additional dividends worth 158.7 million lei. Thus, during 2017, CONPET S.A. distributes attractive dividends with a gross value of 26.4 lei per share, dividends yielding a return of 25.38%, the highest yield of the dividend offered by a company listed on the Romanian capital market.

Enevo Group – 5 million euros entrepreneurship

Cristian Pirvulescu (35 years old) and Radu Braşoveanu (35 years old) started Enevo Group in the middle of 2014, a company to provide engineering and automation services in the energy field. In three and a half years of activity, the company has grown from 0 to 50 employees, with a turnover of nearly 5 million euros at the end of 2017, over 60% of which is due to exports. In recent years, in an uncertain economic environment and in an internal market where traditionally companies have limited their business, Enevo Group has managed to build up a promising brand.

With a young and motivated team, Enevo Group had the opportunity to participate and implement, in these almost four years since its inception, over 40 projects with a high thematic variety: from the provision of control solutions for renewable power plants and for energy dispatchers, to the development of industrial software and hardware, to the full rehabilitation of power stations or automation for complex processes. In three and a half years, Enevo Group engineers have reached three continents, developing critical projects in Uruguay (automation of the back-up power supply of the Brazilian-Uruguayan-Melo power plant), Saudi Arabia and Australia.

At present, the company works on rehabilitation project for the command-control-protection system for one of the most important power stations belonging to the SABIC group in Jubail (MSS1 of the Hadeed steel producer, a plant with an over 1000 MW installed capacity).

Hidroelectrica – The most profitable Romanian company

Hidroelectrica ranks first in terms of profitability in the top of Romanian companies, with an EBITDA of 68% of the turnover, in the first nine months of 2017.

The results for the first nine months of 2017 show that Hidroelectrica recorded a gross profit of 1.19 billion lei, with a turnover of 2.41 billion lei. Gross profit increased 5% over the same period in 2016, while net profit margin increased from 36% on 30.09.2016 to 42% on 30.09.2017.

In overcoming the energy crisis in the winter of 2017, Hidroelectrica was the main factor of stability of the national energy system.

At the same time, the company managed to pay, at the shareholders’ request, special dividends amounting to 655 million lei, this year.

Romgaz – Discovery of the Caragele deposits

The Caragele structural deposit is the largest on-shore gas field discovered over the last 30 years in România.

The production tests completed at the Damianca – Rosetti exploration wells confirmed a significant accumulation of hydrocarbons in the Jurassic limestone reservoirs over a range of about 120 m, at a depth of more than 4000 m. The discovery is located in the North East section of the Moesic Platform within the complex Struga Caragele, about 35 km long, explored for geological objectives at depths between 1500 and 5000 m, part of Romgaz’s major exploration program.

Results obtained from flow tests (DST) on 7 mm and 9 mm nozzles predict daily production between 1400 and 2200 boe per well. The contingent resource, based on borehole data, including geophysical wells, mechanical and fluid chips extracted from the tests, and the trap dimensioning on 3D seismic data, is estimated to be between 150 and 170 million boe.

2017 work program includes the drilling of six wells with an investment value of about 40 million euros. Future exploration efforts are currently focused on planning and drilling to confirm and potentially increase the volume of the estimated resource by investing more than 100 million euros.


Ten good connoisseurs of the energy industry in Romania reunited in the Jury of the fifth edition of the energynomics Awards and expressed their options and votes in a debate held on November 22th.
The fifth energynomics Awards Gala is scheduled on December 7th at the National Military Club in Bucharest. Learn more details about energynomics Awards – More 2017.

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