The production comes from Padina North 1 well, drilled in 2014, along with other newly built production facilities: gas separators, gas treatment and gas measurement systems, pipelines ensuring connectivity to the national transport system and liquid products storage facilities.
The total investments of the two partners between 2014 and 2016 for the Padina North 1 project amount to approximatively EUR17 million. The construction works for production facilities were finalized in just seven months.
Padina North 1 well currently ranks among top wells in OMV Petrom’s portfolio, with an average gross gas and condensate production stabilized at approximately 1,900 boe/day, in line with initial estimations, the company said.
The companies estimate that, at Padina, experimental production will last approximately 12 months. The purpose of the experimental production is to collect data that will define the technical and economical details for the decision to pursue with field development.
In 2010, OMV Petrom signed a partnership with Hunt Oil for the exploration and development of onshore blocks Adjud and Urziceni East, each partner having a 50% interest, with Hunt Oil being the operator.
OMV Petrom is the largest integrated oil and gas group in Southeastern Europe, with an annual oil and gas production of approximately 65 million boe in 2015. The group has a refining capacity of 4.5 million tons/year and operates an 860 MW high efficiency power plant and a 45 MW wind park.
Hunt Oil is one of the largest privately held companies in the United States, operating both domestically and internationally, and is actively engaged in exploration and production activities in North America, South America, Europe and the Middle East.