New crude oil and gas resources discovered in Romania

Exploration drilling and testing of these three wells took place between June 2022 and April 2023. The company has invested around €20 million in the exploration drilling campaign.

Cristian Hubati, member of the OMV Petrom Executive Board, responsible for the exploration and production activities, said: "Romania has been producing crude oil and natural gas for over 150 years, and under these conditions, identifying new resources requires a significant effort. The new discoveries will contribute to reducing the decline of our production and to the continuity of the supply of essential products for the economy.”

One of the discoveries made by OMV Petrom was in the Verguleasa exploration area, in the Oltenia region. The company has identified crude oil resources totalling around 20 million boe, representing OMV Petrom's largest crude oil discovery in decades. The discovery is in the vicinity of another production area, which will offer synergies by facilitating a faster start of production.

Another discovery took place in the Târgovi?te exploration block, where crude oil resources were identified in an estimated amount of 6 million boe. Successful testing was carried out in April 2023 and pre-exploitation work is in preparation.

A third discovery was made in the Târgu Jiu exploration block. Natural gas resources of 7 million boe were identified, equivalent to almost one third of Romania’s natural gas production in 2022. One follow-up well is already planned for next year and preparations for a tie-in are ongoing.

Read the article online at: https://www.oilfieldtechnology.com/exploration/15062023/new-crude-oil-and-gas-resources-discovered-in-romania/