The discoveries made in the Oltenia and Muntenia regions of southern Romania had more than 30 million barrels of oil equivalent (mmboe) of recoverable resources, equivalent to the company’s production for three quarters in 2022
Romanian integrated oil company OMV Petrom has made a new discovery of crude oil and natural gas resources in the Oltenia and Muntenia regions of southern Romania.
OMV Petrom makes discovery in Romania. (Credit: Mihai on Unsplash)
The newly discovered deposits had more than 30 million barrels of oil equivalent (mmboe) of recoverable resources, equivalent to the company’s production for three quarters in 2022.
OMV Petrom said that all the discoveries are the result of its exploration strategy focusing on near-field opportunities located close to existing infrastructure.
The strategy enables rapid development, tie-ins and early production of newly discovered crude oil and gas resources, said the company.
Between June last year and April this year, the company invested around €20m for its exploration drilling campaign and testing at the three wells.
OMV Petrom executive board member, responsible for exploration and production activities, Cristian Hubati said: “Romania has been producing crude oil and natural gas for over 150 years, and under these conditions, identifying new resources requires a significant effort.
“The new discoveries will contribute to reducing the decline of our production and to the continuity of the supply of essential products for the economy.”
OMV Petrom has made a discovery in the Verguleasa exploration area, Oltenia region, where it has identified crude oil resources totalling around 20mmboe.
The company has made another discovery in the Târgovi?te exploration block, where crude oil resources were identified in an estimated amount of 6mmboe.
In April this year, OMV Petrom carried out the testing at this well, with pre-exploitation work currently under preparation.
The company has made its third discovery in the Târgu Jiu exploration block, where it has identified 7mmboe of natural gas resources.
Furthermore, another follow-up well is already planned for next year, with preparations for a tie-in are currently ongoing, said the integrated oil company.
OMV Petrom is a large-scale, integrated energy company in South-Eastern Europe, with around 43mmboe of annual hydrocarbon production last year.
