Petrom Makes Gas Discovery
Leading Romanian gas producer OMV Petrom has made a new gas discovery, close to its existing infrastructure in Valcea County, Oltenia in southwest Romania.
Well 4317-Mamu was drilled as a step out from the existing Mamu field to a depth of some 4,400 meters and confirmed the presence of gas and condensate. Due to the close proximity to the existing infrastructure, the well could start production in late October with initially more than 0.19mn m3/d (1,100 barrels of oil equivalent per day). The cost of drilling the new well and connecting it to infrastructure was €10mn ($11.4mn).
Most gas fields in Romania started producing decades ago and their production is declining. OMV Petrom upstream director Peter Zeilinger said that his company has ramped up its investment by more than 40% year on year during the first ten months of this year, thus drilling 89 new wells and sidetracks "on top of the €9bn already invested in Romania upstream between 2005 and 2017.”
Mamu field has been producing since 1980 and remains one of OMV Petrom’s top producing fields at around 4,500 boe/day. Austria's OMV has a majority 51% stake in OMV Petrom.