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OMV Petrom discovers new crude oil and natural gas resources in Romania
OMV Petrom has discovered new crude oil and natural gas resources in the Oltenia and Muntenia regions of southern Romania, with the investment in the exploratory drilling campaign amounting to about 20 million euros, the company announced Tuesday.
Cumulatively, the discoveries amount to more than 30 million boe of recoverable resources, equivalent to three quarters of OMV Petrom's production in 2022.
According to the source, exploration drilling and testing of these three wells took place between June 2022 and April 2023. The company has invested around 20 million euros in exploratory drilling.
"Romania has been producing crude oil and natural gas for over 150 years, and in 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 supplying essential products for the economy," said Cristian Hubati, Executive Board Member OMV Petrom, responsible for Exploration and Production activities.
According to the source, one of the discoveries made by OMV Petrom was in the Verguleasa exploration area in the Oltenia region.
"The company has identified gas resources amounting to about 20 million boe in total, which represents OMV Petrom's largest gas discovery in recent decades. The discovery is in close proximity to another exploration area, which offers synergies that will contribute to a faster start of production," the release added.
At the same time, another discovery was made in the Targoviste exploration area, where an estimated 6 million boe of gas resources were identified. Test work took place in April 2023 and pre-development work is in preparation.
"A third discovery has been made in the Targu Jiu exploration perimeter and natural gas resources of 7 million boe have been identified, equivalent to almost a third of Romania's natural gas production in 2022. A second well is already planned for next year, and preparations for connection are underway," the source said.