Romanian Antitrust Body Fines Four Drilling Cos for Rigging Romgaz Tenders

Romania's competition council said on Tuesday it has fined four local drilling companies a combined 13 million lei ($3.3 million/2.9 million euro) for agreeing beforehandon bids to be placed in tenders organised by state-controlled natural gas producerRomgaz [BSE:SNG].

The four companies, Dafora [BSE:DAFR], Foraj Sonde Craiova, Foraj Sonde Targu Mures and Upetrom 1 Mai, agreed to share the drilling operations for which Romgaz organised several tenders in 2008 and 2009, the competition council said in a statement posted on its website.

The companies, whichheld a combined market share ofmore than 70% at the time, agreed on the offers they wouldfilein the tenders, determining beforehand who would win a specific contract.

A fifth company involved in the scheme, Foserco, part of US group Weatherford, was exempted fromsanctions after it cooperated with the competition council and supplied probesduring the investigation.

Dafora received the largestfine,of 4 million lei.Foraj Sonde Craiova, Foraj Sonde Targu Mures andUpetrom 1 Maiwill have to pay 3.9 million lei,3.7 million lei and 1.4 million lei, respectively.

Source: SeeNews