Vienna-based oil field service provider Petro Welt Technologies announced that it has decided to close its operations in Romania due to obstacles caused by the coronavirus pandemic, according to See News.
“Due to unforeseen delays and obstacles caused by Covid-19 restrictions the Company decided to halt its business expansion plans into Romania and instead focus on business opportunities in other markets,” Petro Welt Technologies said in a press release on Thursday.
The majority of the equipment presently located in Romania will be relocated to the company’s operations in Russia in order to meet the growing demand of its customers there.
The company started operational activities in Romania in the first quarter of 2020. Established in 1991, Petro Welt Technologies provides oil field services in Russia and the CIS.