Petrom has announced the signing of a new 15-year deal with Petrofac that will help the former boost overall production with support from the latter's training and technology services.

Mariana Gheorghe, chief executive of Petrom, said the company plans to develop between six and eight new deposits through to 2015, and will need support from Petrofac in order to achieve this goal.

Ayman Asfari, group chief executive of Petrofac, added that the contract will enable the company to "adapt to our customer needs and generate additional value through investment and by building our operations".

Under the terms of the agreement, Petrofac will be brought in as operator to boost production and lower costs from Petrom's oil and gas fields in Romania.

In addition to providing the finance for the development of these fields, Petrofac will also be responsible for administering oil and gas training and overseeing human resources in the fields.

Oil and Gas Directory: Training and Development