Output growth was sustained by the natural gas segment, where the company extracted 5.32 billion cubic meters last year, up 3% on the year, according to preliminary financial results issued by the company for 2011.
In 2010, hydrocarbon production reached 67.08 million boe.
“We renewed exploration licenses and had successful results: potentially largest onshore gas discovery in recent years (exploration well Totea) and encouraging first data from deep offshore drilling early this year (joint venture with ExxonMobil),” the report notes.
In the timeframe analyzed, crude oil production dropped 1% to 33.08 million boe.
Hydrocarbon production costs dropped 1% in Romania, to $15.85 per boe, due to stricter cost management, according to the report.
At the same time, OMV Petrom (SNP.RO) maintained the reserve replacement rate in ROmaina at 70% for the fourth year in a row.
Exploration expenditure rose 28% on the year, to 436 million lei (ERU103 million) from RON341 million.
Petrom shares were trading early Wednesday at RON0.395, up 1.28% on the day.