Zeta and Cooper Partner to Develop Natural Gas in Romania

Zeta Petroleum plans to start work on the Romanian natural gas field Bobocu, in Buzau County.  Its partner company, Cooper Energy, will invest a minimum of US$16 million in the first development phase of the natural gas field.

Zeta signed a concession agreement with the National Agency of Minerals and Resources in Romania in 2007 for the Bobocu field.  Zeta was granted an enlargement of the Bobocu concession in 2008. The Bobocu concession contains a mature biogenic gas field that Zeta intends to bring back into production by drilling new development wells and, where possible, working over existing wells.

Romgaz discovered the Bobocu gas field in 1966.  It was placed on production in 1977 but was abandoned in 1995 due to problems of sand influx in well boreholes from producing reservoirs.  Zeta is now working towards drilling a new well in the field in Q4 2011, according to company data.

Source: Romania Business Insider