Romgaz said it completed this month the works for bringing into production test two new gas accumulations in northeastern and central Romania, respectively.
The first well, drilled at a 4,100-meter depth, is located in the exploration-development -production block RG 04 Moldova Nord, an area where Romgaz produces gas since 1972. This drilling operation, completed in January 2015, discovered a gas-condensate field which is currently under the development phase, the company said.
The other well is drilled at 2,600 m depth and is included in the block RG 03 Transilvania Sud, where some of the oldest Romanian natural gas fields are located. “The discovery, made in January 2014, identified a new natural gas field where currently more wells are drilled for full assessment and development,” Romgaz added.
The daily production of these two new wells exceeds 2,600 barrels of oil equivalent per day, which is approximately 3% of the company’s daily gas production.
Both fields are included in the category of conventional hydrocarbon fields.
“One of Romgaz management main objectives of the past few years was and continues to be the development of gas resources and reserves portfolio, through discovery of new fields and development and enhanced recovery of existing resources,” the statement reads.
In 2014, Romgaz spent 1.085 billion lei (EUR244.3 million) for investments, out of which geological exploration and production expenses represented about 54%.
Romgaz, the largest natural gas producer and main gas supplier in Romania, is listed on the Bucharest and London stock exchanges, and its main shareholder is the Romanian state with a 70% interest.