Geophysical and geological services company Prospecțiuni Bucharest propose to its shareholders the opening of five new branches or subsidiaries in Kazakhstan, Angola, Egypt, Kenya and Namibia. The proposal will be discussed at an Extraordinary General Meeting of Shareholders convened for April 29. Currently, the company has operations in Romania, Bulgaria, Georgia, Morocco and Senegal. Prospecțiuni expanded exploration operations in Tajikistan and Portugal, and Singapore and Mauritius are on the map of interest.
The two largest individual shareholders of the company are Tender SA Timișoara (55.7% stake) and SIF Muntenia (11.82% stake). The company reported revenue last year of about 416 million lei, 20.5% higher than those collected in 2012 and a profit of 35 million lei, with more than half than 2012 earnings.