End-September 2018, OMV Petrom signed an agreement for the transfer of licenses for nine onshore oil and gas fields in Romania to Mazarine Energy Romania S.R.L., a fully owned subsidiary of Mazarine Energy B.V. (Mazarine Energy). The transaction has been approved recently by Romania’s Competition Council.
The nine fields, located in the Moinesti Zemes region, with a cumulative oil and gas production of approximately 1,000 boe/day, are part of the second package of fields to be divested within the portfolio optimization program for upstream. The fields represent less than 1% of OMV Petrom’s current production. The first round of portfolio optimization, which included 19 marginal fields, was finalized in August 2017 with the licenses being transferred to Mazarine Energy.
End-2016, Mazarine Energy Romania had acquired all rights and obligations stemming from 19 oil concession agreements held by OMV Petrom SA, together with the assets, real rights and employees involved in the exploitation of oil fields.