Expenses decreased by 5% to RON693 million and the natural gas quantity supplied was 14% higher.
“Bearing in mind that every hydrocarbon production company records a production decline, the company recorded in Q1 2021 a relatively high production supported by Continuous rehabilitation projects for main mature gas fields, mitigating production decline in such fields and by performing recompletion operations in wells that led to reactivation of several wells with important flow rates”, per the company’s quarterly financial report.
“These results were achieved considering that gas imports for consumption were approximately 9.66 TWh, 6.7% higher than the quantity of Q1 2020 and withdrawals from Romgaz UGS’s were by 150% higher than in the similar period of last year”, the report reads.
National gas consumption estimated for Q1 2021 was 49.13 TWh, by approx. 6% higher than the consumption recorded in Q1 2020, out of which 9.66 TWh is covered by import gas and the difference of 39.47 TWh by domestic gas. Romgaz contribution is 18.14 TWh, representing 36.92% from the national consumption, and 45.96% from the consumption supplied from internal gas. Romgaz market share rose by 2.5% as compared to the market share recorded in Q1 2020.
Romgaz is 70% owned by the Romanian State, through the Energy Ministry.